Amazon, Google, Meta, and Microsoft announced they are spending billions to build out their AI capabilities. It'll take time for it to pay off.
Meta Platforms (NASDAQ:META) posted better-than-expected earnings and sales results for its first quarter on April 24. The company reported roughly 3.24 billion Family Daily Active People in the first quarter. That’s up 7% year-over-year. The company said capital spending is likely to increase in future years as its artificial intelligence roadmap is supported. The European Commission reportedly plans to investigate Meta's Facebook and Instagram over concerns regarding Russia disinformation, wit