Meta Stock Plunges
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Meta is looking to raise at least $25 billion from a six-part bond sale, hot on the heels of a disappointing earnings report. The social-media company said proceeds from the sale would be used for general corporate purposes.
Meta plans to spend up to $72 billion on AI infrastructure this year, with CEO Mark Zuckerberg defending the long-term strategy.
Louisiana approved Meta's $10 billion project in August, saying it would bring "hope" for economic growth, but some experts say the center's power demands will raise customers' power bills statewide.
As Meta Platform Inc. shares tumbled Thursday in the wake of its earnings report, investors were on alert for potential carnage in the stocks of other tech giants. Meta shares fell as much as 12% earlier in the session,
The move comes after Strike 3 Holdings discovered illegal downloads of some of its adult films on Meta corporate IP addresses, as well as other downloads that Meta allegedly concealed using a “stealth network” of 2,
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