Mark Zuckerberg · Meta · OpenAI · Anthropic · CNBC Technology
Meta's stock has best week since early 2024 as optimism publishes around AI strategy
Compiled by KHAO Editorial — aggregated from 1 source + 3 references discovered via search. See llms.txt for citation guidance.
◌ Single Source
Meta shares rallied on Friday, lifting their gains for the week to 15%, the best weekly performance since early 2024, as optimism builds around CEO Mark Zuckerberg's artificial intelligence strategy.
Key facts
- When Meta reported first-quarter earnings in April, the company raised 2026 guidance for its capital expenditures to as high as $145 billion
- Meta shares rallied on Friday, lifting their gains for the week to 15%, the best weekly performance since early 2024, as optimism builds around CEO Mark Zuckerberg's artificial intelligence strategy
- Meta could further increase its 2026 capex guidance when it reports its second-quarter earnings, BNP Paribas Equity Research senior analyst Nick Jomes said in a research note earlier this week
- With the latest rally, the stock has erased its losses for the year and is now up more than 1%
Summary
Three months after introducing Muse Spark, its first proprietary foundation AI model, Meta made two significant announcements this week. This week's revelations show Meta is aggressively trying to make a splash in AI models and compete against OpenAI, Anthropic and Google, which all have big head starts. With the latest rally, the stock has erased its losses for the year and is now up more than 1%. Meta also got a boost from reports that the company is progressing with its custom, in-house AI chips, revealed back in March as part of its data center expansion plans.