Meta stock slips after-hours as Zuckerberg rolls out ‘Meta Compute’ AI buildout
Meta shares fell 1.7% to $641.92 in after-hours trading Monday after CEO Mark Zuckerberg announced the “Meta Compute” AI infrastructure push. The New York Times reported Meta plans to cut about 10% of Reality Labs staff, or roughly 1,500 jobs, as soon as Tuesday. Zuckerberg named Dina Powell McCormick as president and vice chair. Meta has spent over $60 billion on Reality Labs since 2020.