Meta wins the feed, but Google is playing a longer game in AI ads

Meta's disappointing revenue forecast puts AI spending under the microscope

Meta beat Q2 revenue ($60.8B vs $60.2B expected) but EPS missed by 13% as capex jumps to $125–145B for AI infrastructure. Investors are questioning if AI capex will generate near-term revenue or if Meta's spending remains an expensive experiment without ROI.