200 BILLION PENALTY META
Tech layoffs were just the start: 1.6 million more US job cuts could push America toward recession
US technology layoffs have crossed 200,000 in 2026, with Google, Microsoft, Amazon and other major companies cutting jobs. But the bigger concern is whether the trend will spread to retail and financial services, where another 1.6 million job losses could push unemployment higher and raise fears of a US recession.
Incorrect HRA or deduction claims? How Section 270AA may offer relief from 200% penalty
Incorrect tax claims may expose taxpayers to a 200% penalty for misreporting and prosecution in appropriate cases. Section 270AA offers conditional relief upon prescribed payments. For indefensible claims, this route may be preferable to litigation, subject to eligibility.
Google, Meta, TikTok sue to block California youth social media law
The law, known as Assembly Bill 1709, prohibits such platforms from offering underage children "psychologically exploitative features" that could lead to compulsive use, such as providing personal recommendations and sending videos through autoplay features. It also requires the deletion of children's accounts with those features.
Meta draws record orders for debut euro bond sale, Bloomberg News reports
Meta Platforms has successfully garnered an impressive €53 billion in investor interest for its inaugural euro bond issuance. With an ambition to raise €9 billion divided into six distinct parts, this move follows their recent $15 billion bond offering in the US market. Citigroup and Morgan Stanley are at the helm of this euro bond sale, with pricing anticipated shortly. As of September 30, Meta's total debt reached $83.67 billion.
ETtech Explainer: Why Meta is raising billions through bonds
Developing AI models and offering AI-powered services requires enormous computing capacity. This involves building data centres, purchasing specialised chips and servers, expanding cloud infrastructure, and securing the electricity needed to run these facilities.
Meta kicks off first euro bond sale in latest test for tech sector
Meta Platforms has initiated a significant bond sale, marking its first offering of euro-denominated bonds aimed at financing its investments in AI and infrastructure development. In addition, the tech giant plans to raise $15 billion through a US dollar bond offering this week. Despite ongoing concerns about growth in the AI sector and regulatory challenges, technology companies continue to pursue funding opportunities.
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AMD forecasts quarterly revenue above estimates as data-center growth accelerates
The company, which nearly doubled its data-center revenue in the third quarter, is benefiting as a shift in AI workloads toward running models in real-world applications drives demand for its graphics processing units and central processors. This has enabled AMD to capture market share from rival Intel, which last week forecast quarterly revenue well below estimates and triggered a global selloff in chip stocks.
AMD's OpenAI, Meta chip deals trigger $1 billion quarterly charge
AMD in February agreed to sell up to $60 billion worth of AI chips to Meta over five years, giving the Facebook owner warrants that could let it buy as much as 10% of the chip firm if it meets certain milestones. The deal followed a similar agreement with OpenAI last year, giving the startup the option to buy up to roughly 10% of the chipmaker.
Meta raises $15 billion through bond sale to fund AI infrastructure expansion
Meta Platforms is raising $15 billion through a five-part bond offering to fund its expanding artificial intelligence infrastructure investments. The fundraising highlights the growing reliance of major technology companies on debt and equity markets to finance the global AI race.
AMD forecasts fourth-quarter revenue above estimates on strong AI chip demand
Advanced Micro Devices estimates its fourth-quarter revenue will hit about $17 billion, driven primarily by robust demand for AI chips. Although the company's forecast for adjusted gross margin stands at 55%, it falls slightly short of analyst expectations. A remarkable 97% year-on-year increase in data-centre revenue showcases AMD's growth. However, the company currently faces challenges in sourcing high-bandwidth memory, essential for its AI processors.
Meta raises $15 billion in five-part US bond sale
The tech giant's offering adds to a wave of fundraising as companies raise fresh capital to finance AI data centers, computing capacity and cloud expansion, despite traditionally relying on cash-rich balance sheets to fund growth.
AMD's OpenAI, Meta chip deals trigger $1 billion quarterly charge
AMD in February agreed to sell up to $60 billion worth of AI chips to Meta over five years, giving the Facebook owner warrants that could let it buy as much as 10% of the chip firm if it meets certain milestones. The deal followed a similar agreement with OpenAI last year, giving the startup the option to buy up to roughly 10% of the chipmaker.
Apple beats sales and profit expectations but AI costs weigh on holiday sales
Apple exceeded analysts' expectations for its latest results on Monday when the iPhone-maker said it notched a "revenue record" for the July-September quarter, driven by iPhone sales and services revenue, but increased costs related to AI will drag down margins. This includes primarily the impact of higher memory costs, as well as some costs related to the ramp of Siri AI," Parekh said.
Does Snapchat cause depression, anxiety, eating disorders? A court trial that tells bold story against social media platforms
Social media companies face thousands of lawsuits in federal and state courts brought by individuals, school districts, municipalities and other government entities alleging the companies knowingly sought to addict children to their platforms.
Meta eyes at least $20 billion from potential bond offerings, Bloomberg News reports
Meta is reportedly looking to raise at least $20 billion through a cross-border bond offering to fund its expanding AI infrastructure. The potential debt sale follows its planned $97.5 billion equity fundraising, highlighting how major technology companies are increasingly tapping debt and equity markets to finance their artificial intelligence ambitions.
Meta settles with teen during trial testing claims social media caused depression, eating disorders
Meta Platforms has settled with a teen plaintiff who accused the company of designing Instagram and Facebook to be addictive, causing her mental health problems
Nasdaq faces $2 trillion wipeout in October as AI spending fears deepen
The wipeout would amount to slightly more than SpaceX's entire market value. The index has fallen over 5.8% so far in October as the AI trade ran into turbulence, with hyperscalers Meta Platforms, Alphabet and Amazon.com raising spending forecasts further as they race to expand AI infrastructure.
Nasdaq futures sink as Amazon, Intel intensify AI spending fears
Shares of Amazon.com were down 6.3% in premarket trading after the company reported a sharp cash outflow in the third quarter and signaled another increase in capital expenditure next year, on top of already elevated outlays.
Big Tech turning to equity to raise funds for AI
Meta plans to raise up to $98 billion to fund AI infrastructure, making it one of the largest equity financing plans ever. Stocks worth only about $37.5 billion have been sold so far — which includes common stock, along with a $12.5 billion offering of mandatorily convertible preferred shares.
Meta, Snap head to trial in another case about social media's harms
Jury selection is expected to begin on Wednesday in Los Angeles for another landmark trial about the alleged harms of social media on young users, with Meta and, for the first time, Snap as defendants. Meta and YouTube lost the first so-called bellwether case earlier this year, when a jury found them collectively liable for harming a young user known by the initials KGM, and ordered the tech companies to pay a combined $6 million penalty.
Rhode Island sues Meta over alleged tolerance for scam advertising
The suit, filed by Rhode Island Attorney General Peter Neronha in Providence Superior Court, accuses Meta of unlawfully profiting from and participating in the creation of billions of dollars in scam advertising - even as it assured its billions of users that it was working diligently to protect them.
Meta stock price: Why are Meta shares down today? Facebook, Instagram parent may witness USD 50 billion wipe out from company's market value despite strong quarterly revenue
Meta share price: Facebook, Instagram parent is spending heavily to support its AI plans, with an expected annual capital expenditure forecast between $135 billion and $145 billion.
Meta falls as investors balance Muse growth with rising AI costs
Shares of Meta Platforms fell about 3% in premarket trading on Thursday, as investors weighed the benefits of the company's fast-growing AI agent business against the mounting costs of funding its ambitious AI expansion.
87 million Facebook users & political targeting: What was the Cambridge Analytica scandal that is back in focus as Meta faces a $25 billion hit
Meta Platforms has been ordered to pay $25 billion for misleading consumers about data privacy in New Mexico. The ruling follows a jury finding that the company misrepresented access to personal information. New Mexico Attorney General Raúl Torrez initiated the case, citing violations of consumer protection laws. This penalty is one of the largest ever imposed on a company by a state.
Meta falls as investors balance Muse growth with rising AI costs
Shares of Meta Platforms declined in premarket trading as investors evaluated costs against growth in the AI sector and faced legal hurdles. Despite reporting higher-than-expected quarterly revenue, the company is under pressure from a $25 billion data-privacy ruling. Meta's aggressive investment in AI includes a forecasted annual capital expenditure of up to $145 billion. A significant free cash flow deficit also reflects the costs incurred in its expansion strategy.
Meta has strong chance of getting $25 billion New Mexico penalty slashed on appeal, experts say
New Mexico secured a $25 billion penalty against Meta Platforms after claims of mishandling user data arose. A jury found that Meta misled consumers regarding access to their data. The jury identified that over 43 million violations took place under New Mexico consumer protection laws. Meta plans to appeal the verdict, arguing against the size of the penalty.
Meta stock: Facebook, Instagram parent stock price rises after tech giant announces new types of shares. All you may want to know
Meta posted diluted earnings per share of $3.83 in the quarter, a figure that would have been $7.40, had it not been for a $9.89 billion charge related to the August settlement.
Meta hit with a staggering $25 billion penalty in New Mexico privacy case linked to Cambridge Analytica scandal-here's what happened
Meta has been sentenced to pay a staggering $25 billion for consumer protection infractions in New Mexico. These violations arose from misleading data collection practices tied to the notorious Cambridge Analytica scandal. Upon the court's ruling, Meta's chief legal officer expressed plans to appeal. Attorney General Raúl Torrez highlighted the serious repercussions faced by powerful tech firms, following a series of lawsuits over data breaches and child safety issues.
Meta raises AI spending forecast to $145 billion, plans new share issue; Q3 revenue beats estimates
Meta raised its 2026 capital expenditure forecast to $135 billion-$145 billion to accelerate AI expansion and announced plans for non-voting shares, while reporting stronger revenue amid mounting legal challenges and intensifying competition.
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