Goldman Sachs doubts Meta's AI push as Zuckerberg loses $20B

Meta shares fell after Goldman Sachs questioned the long-term viability of the company's AI spending, cutting Mark Zuckerberg's paper fortune by nearly $20 billion. Meta is doubling down on AI and hired Chirantan Desai to lead a new division selling AI to corporate customers. Bain estimates the AI industry would need $6 trillion in annual revenue by 2031.

• Meta stock slid after Goldman Sachs flagged AI spending risks
• Zuckerberg's paper fortune shrank by nearly $20 billion
• Meta hired Chirantan Desai to run its corporate AI division
• Bain: AI industry needs $6 trillion in revenue by 2031