The difference for Meta is that Zuckerberg did a better job of convincing investors that AI is helping to improve results in its core business — digital advertising. The AI boost for others like Amazon.com, Microsoft and Alphabet hasn’t been as well articulated.
Technology giants that want to spend big on artificial intelligence and stay in the good graces of investors should take a page out of Meta Platforms’ playbook.
The Mark Zuckerberg-run company has seen its shares gain 13% this month, far outperforming Big Tech peers despite reporting another jump in capital expenditures and pledging to spend even more going forward. The stock settled on Wednesday less than 1% short of its record closing price from last month.
