Meta board pushes back on Mark Zuckerberg's AI bets
Technology
Meta's board is pushing back against CEO Mark Zuckerberg's huge bets on artificial intelligence after the company's stock slid more than 13% over the past month.
Things have gotten tense: Zuckerberg wants a big, stock-heavy pay raise, and some board members are even threatening to quit if they can't reach a deal.
Meta AI spending causes $2.12B deficit
Meta spent so much on AI that it posted its first cash flow deficit since 2012, down $2.12 billion in the last quarter.
Investors are worried about all this spending, but Zuckerberg insists these necessary risks are key for Meta's future growth, even if it means riding out some financial bumps along the way.