Meta Not Among Market Leaders In AI Today, Says Brad Gerstner As Altimeter Exits Mark Zuckerberg-Led Company: Report

Core Insights - Altimeter Capital has exited its significant position in Meta Platforms Inc. due to concerns about its leadership in artificial intelligence [1][4] - Founder Brad Gerstner highlighted that Meta is not currently a market leader in AI, despite its recent efforts [3][4] - The firm has shifted its investment focus towards infrastructure companies benefiting from the AI boom, such as Nvidia and Taiwan Semiconductor [4][5] Investment Strategy - Gerstner prefers to invest in companies with lower multiples and clearer growth catalysts in the current market environment [4] - Altimeter has made substantial investments in AI infrastructure, with major tech companies projected to spend over $500 billion on capital expenditures by 2026 [5] - Nvidia is defended against valuation concerns, with expected earnings growth of 65% this year, making its current multiple of around 25 times earnings reasonable [6] Meta Performance - Meta's shares have declined by 8.04% over the last six months but have increased by 6.92% over the past year [7] - On the latest trading day, Meta's shares rose by 0.28% to $660.62 but fell by 0.21% in after-hours trading [7]