Bonfire of the AI entities 🫥


"In fact, the CEO announced during the company’s earnings call on Wednesday, Meta will be spending between $70 billion and $72 billion on AI this year —up from its previous estimate of $66 billion to $72 billion, as CNBC reports.

"Unsurprisingly, that cash bonfire isn’t going over well with investors. 

"Meta’s shares slid by more than 11 percent on Thursday, indicating widespread skepticism about the company’s ability to stop bleeding billions of dollars as it races to keep up with the AI industry’s ever-escalating expenditure commitments."



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