Meta cash flow craters as Zuckerberg doubles down on AI spending

July 29 (Reuters) - Meta Platforms reported a 91% drop in second-quarter free cash flow on Wednesday, underscoring the financial strain of the social media giant’s costly AI buildout amid an uncertain payoff.

Meta's quarterly results showcased the strength of its core social media business, as well as the gap in its business model in the AI arm's race.

Meta currently has 32 data centers across the globe in operation or under construction, with 28 of them in the US.

Meta's free cash flow wiped out as AI buildout grows  Reuters

July 29 : Meta Platforms reported a precipitous 91 per cent drop in free cash flow on Wednesday, underscoring the financial strain of the social media giant's costly AI buildout despite an uncertain payoff.The company reported free cash flow of $784 million in the second quarter, down from $8.55 billion reported a year