Meta stock slides as Reality Labs layoffs and “Meta Compute” AI push put spending back in focus
Meta shares fell 1.7% to $631.09 Wednesday after the company announced cuts at Reality Labs and a renewed focus on AI infrastructure. CEO Mark Zuckerberg outlined plans for “tens of gigawatts” of computing power, with up to $72 billion in capital expenditures for 2025. Meta confirmed layoffs at Reality Labs, affecting about 10% of staff and closing several VR studios.