Meta takes $16B hit to earnings from Trump's Big Beautiful Bill, warns of higher AI costs
1. Meta forecasts larger capital expenses due to AI investments. 2. The company reported a $16 billion charge affecting Q3 profits. 3. Third-quarter revenue grew 26%, but costs increased 33%. 4. Meta aims for superintelligence with substantial long-term AI investments. 5. Meta plans $70-$72 billion in capital expenditures for the year.