Meta's Stock Surges on Positive Quarterly Earnings and $50 Billion Stock Buyback, Boosting AI Tokens
Meta's stock has risen by almost 14% in after-hours trading following the announcement of positive quarterly earnings, a significant revenue increase, a higher forecast, and a $50 billion stock buyback. The company's CEO, Mark Zuckerberg, expressed satisfaction with the progress made in advancing AI and the metaverse. The CoinDesk Indicies' Computing Select Index (CPUS), which includes AI tokens like Render (RNDR) and Fetch.ai (FET), has risen by nearly 10% in the last 24 hours, while Bitcoin (BTC) has only risen by 2% in the same period. Despite sustaining losses of over $20 billion since 2021 due to its metaverse pivot, Meta's stock has risen by over 100% since Zuckerberg announced the company's AI pivot roughly a year ago.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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