AI & Enterprise
Meta shares fall 6 percent on free cash flow deficit from AI spending
Meta shares fell about 6 percent on Oct. 22 after it posted a $2.12 billion third-quarter free cash flow deficit and raised the low end of its annual capital expenditure forecast, CNBC reported. Meta projected full-year capital spending of $135 billion to $145 billion. Credit markets also grew more cautious, with the spread on Meta’s 5-year credit default swaps rising to a record high. Third-quarter revenue rose 26 percent to $64.6 billion.
