This article first appeared on GuruFocus.
Meta Platforms (NASDAQ:META) is trying to squash rumors it’s easing up on artificial intelligence. Chief AI Officer Alexandr Wang, who now runs Meta’s Superintelligence Labs, said Thursday the company is only ramping up spending.
We are truly only investing more and more into Meta Superintelligence Labs as a company, Wang wrote on X. Any reporting to the contrary of that is clearly mistaken. The post came as Meta shares drifted 1.2% lower in afternoon trade.
His pushback follows a string of headlines suggesting the opposite. The Wall Street Journal reported Meta has paused hiring in its AI unit after a spree that added more than 50 researchers and engineers, some lured with packages topping $100 million. The New York Times added that Meta is considering downsizing the group, which has grown into the thousands, while restructuring it into four teams amid internal tensions.
For investors, the mixed messaging underscores how expensive Meta’s AI ambitions have becomeand how quickly speculation over hiring and budgets can rattle sentiment in a space where the stakes are sky-high.