0901 GMT - Meta Platforms' decision to increase its capital spending plans is exactly what investors in artificial intelligence wanted to hear, Swissquote Bank's Ipek Ozkardeskaya says in a market comment. The owner of Facebook and Instagram said its capital spending for the year would rise to $64 billion to $72 billion from a prior range of $60 billion to $65 billion, largely on AI investments. Meta also delivered strong sales and advertising revenue in the first quarter, boosted by AI, Ozkardeskaya notes. Meta shares are up 6.5% premarket at $584.48. (mauro.orru@wsj.com)
(END) Dow Jones Newswires
May 01, 2025 05:02 ET (09:02 GMT)
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