The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.Meta Platforms gave a disappointing current-quarter revenue forecast, intensifying investor concerns about the company’s unprecedented spending on artificial intelligence.The social media giant said third-quarter revenue will be $61 billion to $64 billion, with the midline of that range below the average analyst estimate of $63.2 billion, according to data compiled by Bloomberg. Meta relies on its advertising business to finance its expensive bets on AI products and infrastructure, including data centers and AI-powered glasses.Investors have questioned how Meta will ultimately recoup its AI investments, and balked earlier this year when Chief Executive Officer Mark Zuckerberg increased projected spending to as much as $145 billion. Meta on Wednesday narrowed its full-year capital expenditure forecast to $130 billion to $145 billion, slightly lifting the bottom end from a previous projection of $125 billion to $145 billion.On this episode, Carol Massar and Tim Stenovec speak with: Ed Ludlow, Bloomberg Tech Host Mandeep Singh, Bloomberg Intelligence Global Head of Technology Research Kurt Wagner, Bloomberg News Senior Technology Reporter See omnystudio.com/listener for privacy information.

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