🚀 Meta spending billions on AI race

Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. After a rough rollout of Llama 4 and lagging behind rivals like OpenAI and Google, Mark Zuckerberg is going all-in on AI, spending tens of billions to transform Meta into a superintelligence leader. Just days after dropping $14.3 billion on Scale AI and hiring founder Alexandr Wang, Zuckerberg is reportedly bringing in GitHub’s Nat Friedman and Daniel Gross, and tried to buy other AI players like Safe Superintelligence and Perplexity. Meta has increased its 2025 capital expenditures to as much as $72 billion, with hiring bonuses for top AI talent reaching $100 million. Critics say Meta’s open-source AI models have stumbled, forcing Zuckerberg into founder mode to rebuild the team and reputation. Analysts are cautiously optimistic, noting his past successes with Instagram and WhatsApp. But with Meta’s ad business relying increasingly on GenAI and its AI credibility on the line, the pressure is on Zuckerberg to turn his “dream team” into a real-world comeback.

2. Electricity prices for U.S. households are rising faster than overall inflation, driven by surging demand and strained infrastructure. Power use is skyrocketing due to AI-fueled data centers, EVs, and electric heating, with data centers alone expected to consume up to 12% of U.S. electricity by 2028. Meanwhile, the grid is aging and unprepared: half of all transformers need replacing, new transmission lines are far behind government targets, and equipment shortages have pushed delivery times to years. While demand outpaces supply, fossil fuel plants are being retired faster than clean energy is being added, and the rising cost of materials and labor is slowing progress. The result: regional price spikes, especially in already high-cost areas like the Pacific and Northeast, with bills projected to keep climbing through 2026.

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4. The S&P 500 slipped for a third straight session Friday, falling 0.22% as investors reacted to escalating Middle East tensions and mixed signals on interest rate cuts. While Fed Governor Christopher Waller opened the door to a possible July cut, Chair Jerome Powell maintained a cautious stance, citing uncertainty around Trump’s tariff plans. Trump, in turn, criticized Powell for delaying cuts. Geopolitical anxiety also weighed on markets after reports that Israel may strike Iranian government targets and Trump is considering U.S. involvement. Semiconductor stocks led losses following reports the U.S. may revoke export waivers. For the week, the S&P dipped 0.2%, while the Nasdaq rose 0.2% and the Dow edged up 0.02%.

   Headlines

   1. Microsoft reached an all-time high stock price this past week, continuing to outperform the market.

   2. China’s real estate sector continues to suffer, and experts do not expect a quick or easy recovery as the declining population continues to exacerbate the situation.

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