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Booker agrees to record $145 mn extension with Suns: reports
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Sabalenka criticises Anisimova behaviour after shock Wimbledon exit
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Russia and US hold 'frank' talks on Ukraine war
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Swiatek swats Bencic aside to reach Wimbledon final against Anisimova
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Root's 99 not out keeps India at bay in third Test
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Delta offers upbeat outlook on travel demand, lifting shares
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Sara Netanyahu: the ever-present wife of Israel's prime minister
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Italy can hurt rampant Spain, says coach Soncin
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Djokovic faces Sinner in Wimbledon blockbuster as Alcaraz meets Fritz
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Rebooted and 'vulnerable': Superman is back on screens
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Sri Lanka steamroll Bangladesh to win first T20
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Swiatek routs Bencic to reach first Wimbledon final
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Anisimova shocks Sabalenka to reach Wimbledon final, Swiatek in action
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Europe court says S.African Semenya's gender eligibility trial wasn't fair
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Ten rescued after deadly Huthi ship sinking off Yemen
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Scrutiny over Texas flood response mounts as death toll hits 120
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Rami Al Ali becomes first Syrian in Paris fashion programme
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London stocks hit record high on tariff optimism
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Ireland's Healy pulls off solo win at Tour de France
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French appeals court clears two over first lady gender rumours
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French appeals court court clears two over first lady gender rumours
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Barry Callebaut cuts outlook as chocolate sales volumes melt away
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The $10 mn bag: Original Birkin smashes records at Paris auction
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Anisimova stuns Sabalenka to reach Wimbledon final
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Root leads England revival after Reddy's double strike for India
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Snap, crackle and pay: Ferrero to buy WK Kellogg for $3.1 bn
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Shein faces 150-mn-euro fine in France
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Rubio says Asia might get 'better' tariffs than others
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India wicketkeeper Pant leaves field injured in third Test
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Russia says holds 'frank exchange' with US on Ukraine war
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Tendulkar says 'life has come full circle' with Lord's portrait
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Wall Street stocks stall, London hits record high
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Duplantis unfazed by late world champs in Tokyo
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Europe court says S.African athlete's gender eligibility trial wasn't fair
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Dzeko, 39, returns to Serie A with Fiorentina
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Scrutiny over Texas flood response mounts as death toll tops 120
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Iran threats in UK 'significantly increased': Intel watchdog
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Volkswagen halts electric minivan exports to the United States
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EU chief von der Leyen comfortably survives confidence vote
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India's Reddy strikes twice to rock England
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EU opens new probe into TikTok data transfer to China
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Italy probes UK online bank Revolut for 'misleading' clients
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Arsenal sign midfielder Norgaard from Brentford
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Explosions, fires rock Kyiv in deadly Russian barrage
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Fatigued Afghan taxi drivers take novel approach to AC
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Rubio meets Russia's Lavrov at ASEAN talks
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Stocks rise on tariff optimism, London hits record high
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Hamas says Israeli troops sticking point in truce talks as Gaza pounded
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EU chief von der Leyen survives confidence vote by large margin
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Europe court says S.African athlete's trial wasn't fair in gender testing case

Meta shows strong growth as AI spending surges
Facebook owner Meta saw net income and revenues top expectations on Wednesday as the company said it would expand investments into artificial intelligence, drawing nervousness from investors.
The social media behemoth, which is also the parent company of Instagram and WhatsApp, said net profit in the third quarter was $15.7 billion -- up 35 percent on the same period last year.
Revenues rose 19 percent to $40.6 billion, slightly higher than analyst estimates.
But investors sent Meta shares lower in after hours trading over the outlook for AI spending in the months ahead and another big loss at its virtual and augmented reality arm, Reality Labs.
"Our AI investments continue to require serious infrastructure, and I expect to continue investing significantly there, too," Meta's founder and chief executive Mark Zuckerberg told analysts.
"We haven't decided on a final budget yet, but those are some of the directional trends," he added.
Meta's share price slipped nearly three percent after its earnings results were published.
Like its Big Tech peers, Meta is rushing into artificial intelligence as it tries to build revenue streams away from its social media core business.
In recent months Zuckerberg has put most of his attention and spending on the company's AI innovations that have been rolled out as chatbots across its platforms or used to upgrade its ad tech.
On Wednesday, Meta once again raised its capital investment outlook: for 2024 alone, it is forecasting a range of $38-40 billion, compared with $37-40 billion previously, much of it for AI.
- 'Rising costs' -
Investors "were a little disappointed by the rising costs" said Jasmine Enberg of Emarketer.
"It's going to take longer time to pay off" than some had hoped, she added.
In the first quarter this year, the spending had already caused concern among investors, despite a doubling of earnings.
But a quarter later, Meta's results impressed investors with a further surge in profits, showing that its core ad business could support the investments.
"Meta's solid revenue growth in the quarter will help stave off investor concern about its AI investments," said Debra Aho Williamson of Sonata Insights, who added that these investments were making it easier to post ads on the platforms.
However, she warned, that the full impact of consumer facing AI "won't be felt until 2025 or beyond."
Reactions were positive last month when the company unveiled its Orion augmented reality glasses, which remain experimental but bolstered confidence that Meta will be a leader in the AI wearable space.
Meta also hopes to ride on the excitement of its Ray-Ban Meta smart glasses, which it developed with EssilorLuxottica, the European eyewear giant.
Analysts believe that the glasses could be a hot item during the end-of-year holiday season.
But the recurring losses at Reality Labs, the VR division, continued to weigh on investors minds. The division posted $270 million in revenues in the third quarter -- and $4.4 billion in operating losses.
D.Cunningha--AMWN