Meta Stock Tanks In Jittery Market On Massive AI Investment, Mixed Q2
- Meta shares fell over 8% after unveiling huge AI spending plans
- Q2 revenue beat forecasts, up 28%, but Q3 guidance disappointed
- Fed rate-hike warnings and oil-driven inflation fears rattled wider markets too
Meta's shares plunged more than 8% in after-hours trading after the company said it plans to invest between $130 billion and $145 billion on AI this year, unnerving investors already anxious about whether such enormous spending will pay off. The parent of Facebook, Instagram and WhatsApp also missed…