Mark Zuckerberg's Meta surges as Facebook parent's revenue soars on AI ‘superintelligence' push
1. Meta narrows capital expenditures forecast to $66-72 billion for AI investments. 2. Shares rose nearly 9% following the announcement, indicating positive market reaction. 3. Second-quarter revenue increased by 22%, beating estimates and demonstrating strong performance. 4. Instagram's Reels is projected to generate over half of Meta's ad revenue in 2023. 5. Meta accelerates efforts to monetize WhatsApp and Threads through ad integration.