On Wednesday, Meta achieved a market cap exceeding $1 trillion, with shares closing over 1% higher at $390 each amidst a notable uptrend. This milestone was previously reached in 2021 when the company was known as Facebook. Following a remarkable 200% surge in 2023, attributed to CEO Mark Zuckerberg’s cost-cutting initiatives resulting in 20,000 job cuts, The company’s stock performance has been robust. Zuckerberg, terming 2023 as a “year of efficiency,” witnessed the stock rebound after a 2022 low.
Meta’s shares peaked at around $396 during Wednesday’s intraday trading, marking a year-to-date increase of over 10%
Intriguingly, Meta’s shares peaked at around $396 during Wednesday’s intraday trading, marking a year-to-date increase of over 10%. Shareholders are optimistic about Meta’s trajectory, particularly as it aims to fortify its standing in artificial intelligence. Zuckerberg recently revealed plans to acquire 350,000 H100 graphics cards from Nvidia by year-end, reflecting substantial investments in AI, with fiscal Q4 earnings set for reporting on February 1.


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