Meta to report Q3 earnings as AI spending continues to pile up

Meta (META) will report its third quarter earnings after the bell on Wednesday as the company continues its AI spending spree. The social media giant previously said it would spend $72 billion in 2025 building out its AI infrastructure and hiring AI specialists, up from an initial estimate of $65 billion. So far, that’s included investing $14.3 billion in Scale AI (SCAI.PVT) and hiring its CEO as chief AI officer; plowing at least $1.5 billion into a new data center in El Paso, Texas; and entering into a ...