Meta Investors cheer as Mark Zuckerberg doubles down on AI commitment

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By Ryan Vlastelica, Bloomberg Meta Platforms Inc. keeps writing bigger checks in pursuit of its artificial intelligence strategy, and traders keep cheering it on, encouraged that the expensive bets will keep paying off. The stock is back near record territory after soaring more than 40% from its April low. Last week, Meta finalized a $14.3 billion investment in Scale AI, whose leader is joining a team being assembled by Chief Executive Officer Mark Zuckerberg to pursue artificial general intelligence. That came just after Meta raised its capital spending forecast for 2025 to as much as $72 billion. “The amount of...