By Katherine Hamilton
Meta shares fell after The Wall Street Journal reported the company would delay the launch of its new artificial-intelligence model.
The stock dropped to as low as $635.58, or 3.6% below the previous close, after the report before paring the loss to $644.33 in late Thursday trading. Shares are still up about 10% this year.
Meta's planned large-language model was originally set to be released in April, but was pushed to June. Now, the rollout has been delayed to fall or later, the Journal said, citing people familiar with the matter.
The slower rollout is sparking internal concerns about how much the technology company is spending on AI initiatives. Meta plans to spend up to $72 billion in capital expenditures this year, much of which is slated for AI projects.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
May 15, 2025 15:54 ET (19:54 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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