Shares of Meta Platforms Inc (formerly known as Facebook) plunged nearly 12 per cent on Thursday after the company's latest quarterly results reignited concerns over its heavy artificial intelligence (AI) investments. The stock was last seen trading 11.87 per cent lower at $662.44.

The social media giant raised its 2025 capital expenditure guidance to a range of $70 billion–$72 billion, up from the earlier $66 billion–$72 billion range, as it accelerates investments in AI infrastructure to compete with industry rivals. Advertisement

Chief Executive Officer (CEO) Mark Zuckerberg defended the spending, saying the company was already seeing encouraging returns in its core business.

"It's pretty early, but we're seeing the returns in the core business. That's giving us a lot of confidence

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