9 Buzzing AI Stocks on Latest News and Ratings

2. Meta Platforms, Inc. (NASDAQ:META)

Number of Hedge Fund Investors: 235

Meta Platforms, Inc. (NASDAQ:META) is a global technology company. On February 10, Meta began notifying staff of job cuts. These performance-based layoffs will be affecting almost 4,000 Meta workers across the United States, Europe, and Asia. According to Bloomberg, the eliminations come amid the company’s search for new talent that could help it dominate the artificial intelligence race. Chief Executive Officer Mark Zuckerberg told employees that Meta would cut 5% of its workforce, particularly those who “aren’t meeting expectations”. In a separate message to managers, Zuckerberg said that the cuts would help make space for creating space for the company to hire the “strongest talent.” He has also told his investors previously that Meta anticipates spending hundreds of billions of dollars on AI infrastructure.