Meta shares tumble 10% as Mark Zuckerberg’s AI spending spree stuns Wall Street

Source: New York Post

Meta Platforms reported a precipitous 91% drop in second-quarter free cash flow on Wednesday, underscoring the financial strain of the social media giant’s costly AI buildout despite an uncertain payoff. The Facebook parent company reported free cash flow of $784 million in the second quarter ended June 30, down from $8. 55 billion reported a year earlier, sending its shares down 10% in extended trading.