Artificial intelligence boosts Meta's revenue but raises investment bills to record levels

Meta Platforms reported a 26% increase in total revenue, driven by digital advertising, but faced record capital expenditures for AI infrastructure. The company allocated between $135 billion and $145 billion for annual investments, leading to negative free cash flow. Meanwhile, Tesla's quarterly revenue remained stable at $28.05 billion, with adjusted earnings per share surpassing expectations, but growth in vehicle deliveries stagnated. Tesla highlighted improvements in gross automotive margins and focused on advancements in autonomous driving technology.