Meta’s AI bets are swallowing almost all its free cash flow

Meta CEO Mark Zuckerberg.Andrew Harnik/APMeta's free cash flow plunged 91% from the previous year as its AI infrastructure spending surged.Its advertising revenue still jumped 27% year-over-year, showing that some AI bets are paying off.Meta expects to spend as much as $145 billion on capital expenditures this year.The infrastructure behind Meta's AI-powered advertising machine is swallowing almost every dollar of cash the company produces.Meta said on its Wednesday earnings call that its free c