**Meta Platforms (NASDAQ:META)** closed at $611.91 on Thursday, down 8.55%. This decline followed a strong Q1 earnings report where revenue and EPS exceeded expectations; however, increased capital expenditure projections for AI infrastructure and data centers, potentially reaching $145 billion by 2026, raised concerns among investors. Trading volume surged to 52.6 million shares, 218% higher than the three-month average of 16.2 million shares.
In the broader market, the **S&P 500** gained 1.08% to finish at 7,209.1, while the **Nasdaq Composite** rose 0.89% to close at 24,892. Competitors in the space, including **Alphabet (NASDAQ:GOOGL)**, which rose 9.97% to $381.4, and **Snap (NYSE:SNAP)**, which climbed 1.51% to $6.07, exhibited mixed performance compared to Meta’s significant drop. Investors are particularly focused on how increased spending on AI infrastructure will affect future profitability and ad monetization efforts.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
