Shares of Meta Platforms Inc. fell by 7% in extended trading on Wednesday following the company's announcement of plans to significantly increase its capital expenditure on artificial intelligence (AI) projects. The projected spending could rise to $145 billion, up from a previous estimate of $135 billion. Chief Financial Officer Susan Li stated that the company underestimated its computing needs in previous years, necessitating this increased investment. CEO Mark Zuckerberg emphasized that while the company has a general direction for its AI initiatives, there is no clear roadmap for how these investments will yield returns. Additionally, Meta is grappling with various regulatory and legal challenges, including lawsuits related to the impact of its platforms on minors. Notably, the company reported its first quarterly decline in Daily Active People since tracking began, attributed to internet disruptions in Iran and restrictions on WhatsApp in Russia. Despite these challenges, daily active users increased by 4% year-on-year, reaching 3.56 billion.