Meta raises AI spending forecast to $145 billion, plans new share issue; Q3 revenue beats estimates

Meta has increased its forecast for spending on artificial intelligence to $145 billion, up from a previous range of $135 billion. This significant investment is aimed at accelerating the company's expansion in AI, a key area of growth for the tech industry. The move also comes as Meta reports stronger revenue in the third quarter, beating analyst estimates, which is a positive sign for the company's financial health.

Why it matters

Meta is increasing its investment in AI, which could lead to more innovation and growth in the sector. The company's plans for a new share issue may also attract more investors to the market.

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