Meta’s stock best week in over two years optimism builds AI strategy
Meta’s stock best week in over two years optimism builds AI strategy
https://www.cnbc.com/2026/07/10/meta-shares-surge-6percent-as-optimism-grows-on-it.html
Publish Date: 2026-07-10 11:44:00
Source Domain: www.cnbc.com
- Meta stocks rallied 15% on the week, making it the best performance since early 2024 due to optimism around CEO Mark Zuckerberg’s AI strategy.
- Meta released Muse Image to attract creators and advertisers to its subscription offerings and unveiled an upgraded version of Muse Spark, aimed at creating workloads, showing its aggressive AI model push.
- Meta is striving to compete against AI leaders like Google, with efforts being spearheaded by Meta Superintelligence Labs led by Alexandr Wang
- There is speculation around Meta’s custom AI chips as part of its data center expansion, with the first AI chip Iris expected to be manufactured in September and Meta aiming for 14 gigawatts of computing power next year.
- Meta’s first-quarter guidance for capital expenditures surprised investors with increased spending estimates, but the company aims to monetize AI initiatives, advertising, and cloud services revenue to sustain this spending.
