Meta's free cash flow dropped almost $8 billion in a year due to AI.
The company also forecast sales and cloud growth that beat expectations for its current fiscal first quarter, after it also topped Wall Street estimates for quarterly cloud revenue growth in its fiscal fourth quarter ended June 30.
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Meta Platforms' second-quarter results showed a widening gap between its fast-growing advertising business and the cost of building AI infrastructure. Free cash flow fell to US$784 million, while the company lifted the lower end of its 2026 capital expenditur…
Shares in China's Zhongji InnoLight fell in the first few minutes of its Hong Kong debut Thursday, after raising at least US$6.8 billion in the city's biggest IPO since 2019. The firm, which makes high-end optical components for AI data centres, dropped more …
