Facebook parent Meta projects sharp acceleration in AI costs after results beat Wall Street targets

Facebook owner Meta Platforms beat analysts’ estimates for third-quarter revenue and profit on Wednesday, but warned of “significant acceleration” in infrastructure expenses related to its artificial-intelligence buildout, sending mixed signals about whether higher digital ad sales from its core social media business would continue to cover its massive AI investments.

Shares of the Menlo Park, California-based firm fell 2.5% in after-hours trading.