meta platform 
meta Shares fell about 5% on Thursday after CEO Mark Zuckerberg told employees that development of the company’s artificial intelligence agent was not progressing as quickly as management had expected.
Mr. Zuckerberg said in an internal company meeting that recent organizational changes and layoffs have not been as successful as the company had hoped. He suggested that as Meta continues to rebuild its AI strategy, the restructuring process was less effective than planned.
The comments came days after Meta outlined plans to expand its AI infrastructure business by leasing excess computing power, which investors initially thought could be a new revenue opportunity. The report also noted that other AI infrastructure providers, including Elon Musk’s xAI, have begun renting out unused computing power, reflecting a broader industry-wide effort to improve the use of expensive AI assets.
Meta is increasing its investment in AI while managing costs in other parts of the business. Mr. Zuckerberg previously said the company needed to balance spending on computing infrastructure with labor costs, leading to layoffs. He said capital allocation decisions require trade-offs as Meta continues to prioritize long-term AI development.
