Ashton Thomas Private Wealth LLC grew its position in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 34.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 52,252 shares of the social networking company’s stock after acquiring an additional 13,311 shares during the quarter. Meta Platforms makes up about 1.0% of Ashton Thomas Private Wealth LLC’s holdings, making the stock its 13th biggest holding. Ashton Thomas Private Wealth LLC’s holdings in Meta Platforms were worth $38,373,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Meta Platforms during the second quarter valued at approximately $23,155,393,000. Laurel Wealth Advisors LLC increased its holdings in Meta Platforms by 73,443.1% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 8,417,003 shares of the social networking company’s stock valued at $6,212,506,000 after purchasing an additional 8,405,558 shares during the period. State Street Corp increased its holdings in Meta Platforms by 1.9% during the 2nd quarter. State Street Corp now owns 86,925,674 shares of the social networking company’s stock valued at $64,158,971,000 after purchasing an additional 1,650,435 shares during the period. Vanguard Group Inc. lifted its stake in Meta Platforms by 0.8% in the second quarter. Vanguard Group Inc. now owns 192,591,101 shares of the social networking company’s stock worth $142,149,566,000 after acquiring an additional 1,532,568 shares during the period. Finally, Corient Private Wealth LLC increased its position in shares of Meta Platforms by 103.5% during the second quarter. Corient Private Wealth LLC now owns 1,998,624 shares of the social networking company’s stock valued at $1,475,166,000 after buying an additional 1,016,667 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on the stock. Raymond James Financial lowered their target price on shares of Meta Platforms from $825.00 to $800.00 and set a “strong-buy” rating for the company in a report on Monday, January 26th. Stifel Nicolaus lifted their price objective on Meta Platforms from $785.00 to $820.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Wall Street Zen cut Meta Platforms from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Argus restated a “buy” rating and set a $800.00 price target on shares of Meta Platforms in a report on Monday, February 2nd. Finally, Morgan Stanley lifted their price target on Meta Platforms from $750.00 to $825.00 and gave the stock an “overweight” rating in a research report on Thursday, January 29th. Three investment analysts have rated the stock with a Strong Buy rating, forty have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average price target of $845.50.
In other Meta Platforms news, COO Javier Olivan sold 2,610 shares of the company’s stock in a transaction on Saturday, November 15th. The stock was sold at an average price of $609.46, for a total transaction of $1,590,690.60. Following the completion of the sale, the chief operating officer owned 9,784 shares in the company, valued at $5,962,956.64. This represents a 21.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Aaron Anderson sold 726 shares of Meta Platforms stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $591.60, for a total value of $429,501.60. Following the completion of the transaction, the chief accounting officer owned 6,035 shares in the company, valued at $3,570,306. This trade represents a 10.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 39,078 shares of company stock worth $24,016,453 over the last three months. Corporate insiders own 13.61% of the company’s stock.
Meta Platforms News Roundup
Here are the key news stories impacting Meta Platforms this week:
Positive Sentiment: Bill Ackman’s Pershing Square disclosed a roughly $2 billion stake (~10% of the fund), calling META undervalued and an AI beneficiary — a high‑profile institutional endorsement that can attract other buyers and bolster the AI-growth narrative. Article Title
Positive Sentiment: Meta announced a quarterly cash dividend of $0.525 per share (payable March 26) — a formal return of capital that supports yield‑seeking investors and signals board confidence in cash flow. Article Title
Positive Sentiment: Hardware traction: EssilorLuxottica reported it more than tripled sales of Meta AI (Ray-Ban) glasses in 2025 — evidence Reality Labs products can scale and begin to diversify revenue beyond advertising. Article Title
Positive Sentiment: Data center expansion: Meta broke ground on a $10B Indiana data‑center (and another large campus reported elsewhere), strengthening long‑term AI compute capacity that underpins ad/AI initiatives. These are long‑horizon positives but raise near‑term capex. Article Title
Neutral Sentiment: Insider activity: COO Javier Olivan sold 517 shares (~$343k) in a routine filing; the sale is small relative to total insider holdings and follows a pattern of periodic sales. Article Title
Negative Sentiment: Russia block: Russian authorities removed WhatsApp from an official directory and effectively blocked access for ~100M users — a material engagement loss in that market and a nearer‑term revenue/MAU headwind. Article Title
Negative Sentiment: Legal and reputational risk: Ongoing trials and testimony (including accusations that products enabled harm) increase litigation exposure and political/regulatory scrutiny that could lead to fines, restrictions or product changes. Article Title
Negative Sentiment: Capex/FCF pressure: Coverage of the “Mag‑7” AI arms race highlights heavy industry capex and potential free‑cash‑flow strain — Meta’s big data‑center builds support growth but keep near‑term spending elevated. Article Title
Meta Platforms Price Performance
NASDAQ:META opened at $649.81 on Friday. The business’s 50-day moving average is $658.31 and its 200 day moving average is $693.94. Meta Platforms, Inc. has a 12 month low of $479.80 and a 12 month high of $796.25. The company has a market capitalization of $1.64 trillion, a P/E ratio of 27.65, a P/E/G ratio of 1.14 and a beta of 1.28. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.27.
Meta Platforms (NASDAQ:META – Get Free Report) last released its quarterly earnings results on Wednesday, January 28th. The social networking company reported $8.88 EPS for the quarter, topping the consensus estimate of $8.16 by $0.72. The company had revenue of $59.89 billion during the quarter, compared to analyst estimates of $58.33 billion. Meta Platforms had a return on equity of 38.61% and a net margin of 30.08%.The firm’s revenue was up 23.8% on a year-over-year basis. During the same quarter last year, the business posted $8.02 earnings per share. On average, equities research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.
Meta Platforms Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Monday, December 15th were paid a $0.525 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $2.10 annualized dividend and a yield of 0.3%. Meta Platforms’s dividend payout ratio is 8.94%.
Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.
Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.
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Meta Platforms (META) stock is once again in the limelight after the company reported good earnings results, taking its shares close to record highs. Although Wall Street has generally reacted well to the accelerating revenue growth of Meta Platforms and its aggressive artificial intelligence (AI) plans, at least one major investment firm is cautioning investors not to get overly bullish on the tech giant’s shares. In a recent interview, Needham senior analyst Laura Martin said Meta Platforms is “priced for perfection” but could potentially decline 10% to 15% if growth targets are not met.
META stock has risen 7% in the past month due to Meta’s aggressive AI plans for its advertisements and management’s positive outlook on the business. However, the current high optimism surrounding Meta Platforms shares has led investors to price its growth potential at an unforgiving level. With a massive capital expenditure cycle in place, the market is no longer rewarding good enough execution.
The warning comes at a time when the valuations of other major tech stocks are once again facing challenges due to increasing spending plans and a lower tolerance for margin pressure.
Meta Platforms operates the world’s largest social media platform through its Facebook, Instagram, WhatsApp, and Messenger services, along with its Reality Labs segment dedicated to virtual and augmented reality technologies. With its headquarters in Menlo Park, California, Meta Platforms has a current market capitalization of around $1.8 trillion, making it one of the most valuable companies in the world.
Over the last 52 weeks, the stock has traded between a low of $479.80 and a high of $796.25. This is a reflection of its strong earnings momentum and the volatility of the stock related to the investing cycles of artificial intelligence. META stock is currently trading at $697 and has outperformed the S&P 500 Index ($SPX). Investors have clearly rewarded the company for the acceleration of its growth after the efficiency reset of 2022 to 2023.
https://www.barchart.com
From the perspective of valuation, the stock currently trades at 24 times trailing earnings and 24 times forward earnings. The price-to-sales (P/S) ratio is above 9 times as well. These numbers are at the upper end of the stock’s historical range, further supporting the idea that the good news is already priced into META.
Meta Platforms’ fourth-quarter and full-year 2025 results were undoubtedly strong. Revenue for Q4 was up 24% year-over-year (YOY) and came in at almost $60 billion. This was due to an 18% increase in ad impressions and a 6% increase in average ad price during the period. For the full year, revenue was up 22% YOY and came in at more than $200 billion, reflecting a robust digital advertising environment.
However, the story is not so rosy when looking at expenses. Fourth-quarter expenses went up by 40% YOY while full-year expenses went up by 24% YOY. This is a reflection of the significant investments Meta is making in AI infrastructure and technical talent. The company spent $72.2 billion in capital expenditures in 2025 and is projecting a significant increase in capex in 2026 to between $115 billion and $135 billion. This projected increase in capex is related to the upcoming rollout of Meta’s Superintelligence Labs.
Guidance provided by Meta’s CFO is for revenue growth of 30% or more in Q1 2026 in constant currencies. This rate marks a significant acceleration from prior quarters. While that acceleration is great, it leaves little room for disappointment. The problem that concerns Needham is that much of the expense is irreversible in the near term. This means that Meta Platforms’ margins could compress rapidly if the growth slows.
Analysts assign a “Strong Buy” consensus rating on META stock with a mean price target at $855.88, indicating a potential increase of 23% from the current price. The high price target for META is $1,144 while the lowest target price is $700, showing a wide range of price targets.
Analyst Laura Martin’s bearish view on the company’s shares is noteworthy, as it focuses less on Meta’s competitive position and more on the timing of the firm’s performance. Martin believes that being in front of a capex cycle has historically implied higher downside risk, particularly as returns on invested capital have declined. Needham estimates that Meta’s operating margins may decline from 40% in 2025 to the low 30% range in 2026, a significant reset given the company’s premium valuation.
However, Martin was more positive on the ad-tech space as a whole. The analyst highlighted strong results seen by digital advertising companies in the fourth quarter, seeing positive read-throughs for companies like Alphabet (GOOGL), The Trade Desk (TTD), and Magnite (MGNI), even if there’s weakness for Meta shares.
https://www.barchart.com
On the date of publication, Yiannis Zourmpanos had a position in: META. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com
Westend Capital Management LLC decreased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 16.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,035 shares of the social networking company’s stock after selling 4,664 shares during the period. Meta Platforms accounts for 5.1% of Westend Capital Management LLC’s portfolio, making the stock its 7th largest position. Westend Capital Management LLC’s holdings in Meta Platforms were worth $17,651,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in META. Bare Financial Services Inc bought a new stake in Meta Platforms in the second quarter worth $30,000. Evergreen Private Wealth LLC raised its position in shares of Meta Platforms by 237.5% in the 2nd quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company’s stock worth $40,000 after purchasing an additional 38 shares during the last quarter. Briaud Financial Planning Inc purchased a new position in shares of Meta Platforms in the 2nd quarter worth about $42,000. Knuff & Co LLC bought a new position in Meta Platforms in the 2nd quarter worth about $44,000. Finally, WFA Asset Management Corp grew its position in Meta Platforms by 42.6% during the 2nd quarter. WFA Asset Management Corp now owns 67 shares of the social networking company’s stock valued at $49,000 after purchasing an additional 20 shares during the last quarter. 79.91% of the stock is owned by institutional investors.
Key Meta Platforms News
Here are the key news stories impacting Meta Platforms this week:
Insider Activity at Meta Platforms
In other Meta Platforms news, CFO Susan J. Li sold 6,875 shares of the stock in a transaction dated Saturday, November 15th. The shares were sold at an average price of $609.46, for a total transaction of $4,190,037.50. Following the completion of the transaction, the chief financial officer owned 88,370 shares of the company’s stock, valued at $53,857,980.20. This represents a 7.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert M. Kimmitt sold 600 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $609.35, for a total value of $365,610.00. Following the transaction, the director owned 7,347 shares of the company’s stock, valued at approximately $4,476,894.45. The trade was a 7.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 42,074 shares of company stock worth $26,269,739 in the last 90 days. Company insiders own 13.61% of the company’s stock.
Analyst Upgrades and Downgrades
META has been the topic of several analyst reports. Citizens Jmp reiterated an “outperform” rating and issued a $900.00 target price (up previously from $750.00) on shares of Meta Platforms in a research note on Monday, November 24th. Barclays decreased their price objective on shares of Meta Platforms from $810.00 to $770.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Wells Fargo & Company cut their target price on Meta Platforms from $837.00 to $802.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Oppenheimer lowered Meta Platforms from an “outperform” rating to a “market perform” rating in a report on Thursday, October 30th. Finally, Erste Group Bank cut Meta Platforms from a “buy” rating to a “hold” rating in a research note on Monday, November 10th. Four research analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $822.22.
META stock opened at $650.41 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.98 and a quick ratio of 1.98. Meta Platforms, Inc. has a 1 year low of $479.80 and a 1 year high of $796.25. The company has a market cap of $1.64 trillion, a P/E ratio of 28.73, a price-to-earnings-growth ratio of 1.30 and a beta of 1.29. The stock’s fifty day moving average price is $647.29 and its 200-day moving average price is $705.02.
Meta Platforms (NASDAQ:META – Get Free Report) last announced its earnings results on Wednesday, October 29th. The social networking company reported $7.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.74 by $0.51. The business had revenue of $51.24 billion for the quarter, compared to analysts’ expectations of $49.34 billion. Meta Platforms had a return on equity of 39.35% and a net margin of 30.89%.The business’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same period last year, the firm posted $6.03 earnings per share. On average, equities analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.
Meta Platforms Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 23rd. Stockholders of record on Monday, December 15th were given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, December 15th. Meta Platforms’s dividend payout ratio (DPR) is presently 9.28%.
Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.
Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.
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They go by names like @TRUMP_ARMY— or @MAGANationX, and their verified accounts proudly display portraits of President Donald Trump, voter rallies and American flags. And they’re constantly posting about U.S. politics to their followers, sounding like diehard fans of the president.
But after a weekend update to the social media platform X, it’s now clear that the owners of these accounts, and many others, are located in regions such as South Asia, Africa and Eastern Europe.
Elon Musk’s X unveiled a feature Saturday that lets users see where an account is based. Online sleuths and experts quickly found that many popular accounts posting in support of the MAGA movement to thousands or hundreds of thousands of followers, are based outside the United States — raising concerns about foreign influence on U.S. politics.
Researchers at NewsGuard, a firm that tracks online misinformation, identified several popular accounts — purportedly run by Americans interested in politics – that instead were based in Eastern Europe, Asia or Africa.
The accounts were leading disseminators of some misleading and polarizing claims about U.S. politics, including ones that said Democrats bribed the moderators of a 2024 presidential debate.
What is the location feature?
Nikita Bier, X’s head of product, announced Saturday that the social media platform is rolling out an “About This Account” tool, which lets users see the country or region where an account is based. To find an account’s location, tap or click the signup date displayed on the profile.
“This is an important first step to securing the integrity of the global town square. We plan to provide many more ways for users to verify the authenticity of the content they see on X,” Bier wrote.
In countries with punitive speech restrictions, a privacy tool on X lets account holders only show their region rather than a specific country. So instead of India, for instance, an account can say it is based in South Asia.
Bier said Sunday that after an update to the tool, it would 99.99% accurate, though this could not be independently verified. Accounts, for instance, can use a virtual private network, or VPN, to mask their true location. On some accounts, there’s a notice saying the location data may not be accurate, either because the account uses a VPN or because some internet providers use proxies automatically, without action by the user.
“Location data will always be something to use with caution,” said Alexios Mantzarlis, director of the Security, Trust, and Safety Initiative at Cornell Tech and a former director of the International Fact-Checking Network. “Its usefulness probably peaks now that it was just exposed, and bad actors will adapt. Meta has had similar information for a while and no one would suggest that misinformation has been eliminated from Facebook because of it.”
Which accounts are causing controversy?
Some of the accounts supported slain conservative activist Charlie Kirk as well as President Donald Trump’s children. Many of the accounts were adorned with U.S. flags or made comments suggesting they were American. An account called “@BarronTNews_,” for instance, is shown as being located in “Eastern Europe (Non-EU),” even though the display location on its profile says “Mar A Lago.” The account, which has more than 580,000 followers, posted on Tuesday that “This is a FAN account, 100 % independent, run by one guy who loves this country and supports President Trump with everything I’ve got.”
NewsGuard also found evidence that some X users are spreading misinformation about the location feature itself, incorrectly accusing some accounts of being operated from abroad when they’re actually used by Americans. Investigators found several instances where one user created fake screenshots that appear to suggest an account was created overseas.
It’s not always clear what the motives of the accounts. While some may be state actors, it’s likely that many are financially motivated, posting commentary, memes and videos to draw engagement.
“For the most visible accounts unmasked this week, money is probably the main motivator,” Mantzarlis said. “That doesn’t mean that X — as documented extensively by prior work done by academic and nonprofit organizations that are being attacked and defunded — isn’t also a target for state actors.
Users were divided over the new ability to see an account’s location information, with some questioning whether it went too far.
“Isn’t this kind of an invasion of privacy?” One X user wrote. “No one needs to see this info.”
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Associated Press Writer David Klepper contributed to this story.
MELBOURNE, Australia (AP) — The Australian government said young children will be banned from social media next month as scheduled despite a rights advocacy group on Wednesday challenging the world-first legislation in court.
The Sydney-based Digital Freedom Project said it had filed a constitutional challenge in the High Court on Wednesday to a law due to take effect on Dec. 10 banning Australian children younger than 16 from holding accounts on specified platforms.
Communications Minister Anika Wells referred to the challenge when she later told Parliament her government remained committed to the ban taking effect on schedule.
“We will not be intimidated by legal challenges. We will not be intimidated by Big Tech. On behalf of Australian parents, we stand firm,” Wells told Parliament.
Digital Freedom Project president John Ruddick is a New South Wales state lawmaker for the minor Libertarian Party.
“Parental supervision of online activity is today the paramount parental responsibility. We do not want to outsource that responsibility to government and unelected bureaucrats,” Ruddick said in a statement.
“This ban is a direct assault on young people’s right to freedom of political communication,” he added.
The case is being brought by Sydney law firm Pryor, Tzannes and Wallis Solicitors on behalf of two 15-year-old children.
Digital Freedom Project spokesperson Sam Palmer could not say whether an application would be made for a court injunction to prevent the age restriction taking effect on Dec. 10 before the case is heard.
Technology giant Meta last week began sending thousands of Australian children suspected to be younger than 16 a warning to downland their digital histories and delete their accounts from Facebook, Instagram and Threads before the ban takes effect.
The government has said the three Meta platforms plus Snapchat, TikTok, X and YouTube must take reasonable steps to exclude Australian account holders younger than 16 or face fines of up to 50 million Australian dollars ($32 million).
Malaysia has also announced plans to ban social media accounts for children under 16 starting in 2026.
Malaysian Communications Minister Fahmi Fadzil said this week his Cabinet approved the move as part of a broader effort to shield young people from online harm like cyberbullying, scams and sexual exploitation. He said his government was studying approaches taken by Australia and other countries, and the potential use of electronic checks with identity cards or passports to verify users’ ages.
Cetera Investment Advisers raised its holdings in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 5.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 536,647 shares of the social networking company’s stock after buying an additional 26,700 shares during the period. Meta Platforms comprises approximately 0.7% of Cetera Investment Advisers’ investment portfolio, making the stock its 19th biggest holding. Cetera Investment Advisers’ holdings in Meta Platforms were worth $396,094,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Kingstone Capital Partners Texas LLC boosted its holdings in shares of Meta Platforms by 608,429.2% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 59,775,823 shares of the social networking company’s stock worth $44,119,937,000 after buying an additional 59,766,000 shares during the period. Geode Capital Management LLC raised its holdings in Meta Platforms by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 51,575,209 shares of the social networking company’s stock valued at $37,902,948,000 after acquiring an additional 682,768 shares during the period. Invesco Ltd. lifted its position in Meta Platforms by 2.3% during the first quarter. Invesco Ltd. now owns 17,669,795 shares of the social networking company’s stock worth $10,184,163,000 after acquiring an additional 400,927 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Meta Platforms by 8.8% during the first quarter. Goldman Sachs Group Inc. now owns 15,575,962 shares of the social networking company’s stock worth $8,977,361,000 after acquiring an additional 1,255,546 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Meta Platforms by 4.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,543,468 shares of the social networking company’s stock worth $7,229,553,000 after acquiring an additional 536,160 shares during the period. 79.91% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In related news, Director Robert M. Kimmitt sold 600 shares of Meta Platforms stock in a transaction on Monday, November 17th. The shares were sold at an average price of $609.35, for a total transaction of $365,610.00. Following the completion of the transaction, the director owned 7,347 shares of the company’s stock, valued at $4,476,894.45. This trade represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Javier Olivan sold 517 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $604.23, for a total transaction of $312,386.91. Following the sale, the chief operating officer directly owned 15,302 shares in the company, valued at $9,245,927.46. This trade represents a 3.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 40,923 shares of company stock valued at $26,126,437 over the last quarter. 13.61% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of brokerages have recently issued reports on META. TD Cowen reduced their target price on shares of Meta Platforms from $875.00 to $810.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Benchmark cut shares of Meta Platforms from a “buy” rating to a “hold” rating in a research note on Thursday, October 30th. HSBC raised shares of Meta Platforms from a “hold” rating to a “buy” rating and boosted their price objective for the company from $610.00 to $900.00 in a report on Thursday, July 31st. Scotiabank raised their target price on shares of Meta Platforms from $675.00 to $685.00 and gave the stock a “sector perform” rating in a report on Thursday, July 31st. Finally, Loop Capital reiterated a “buy” rating and issued a $980.00 price target (up from $888.00) on shares of Meta Platforms in a research report on Tuesday, August 5th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $823.93.
NASDAQ META opened at $636.22 on Wednesday. The company has a market cap of $1.60 trillion, a price-to-earnings ratio of 28.10, a price-to-earnings-growth ratio of 1.28 and a beta of 1.20. Meta Platforms, Inc. has a twelve month low of $479.80 and a twelve month high of $796.25. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.15. The business’s fifty day moving average is $691.78 and its 200 day moving average is $706.84.
Meta Platforms (NASDAQ:META – Get Free Report) last posted its earnings results on Wednesday, October 29th. The social networking company reported $7.25 EPS for the quarter, topping the consensus estimate of $6.74 by $0.51. Meta Platforms had a net margin of 30.89% and a return on equity of 39.35%. The business had revenue of $51.24 billion for the quarter, compared to the consensus estimate of $49.34 billion. During the same period last year, the company earned $6.03 EPS. The firm’s revenue was up 26.2% compared to the same quarter last year. Meta Platforms has set its Q4 2025 guidance at EPS. As a group, sell-side analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.
Meta Platforms Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 22nd were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, September 22nd. Meta Platforms’s payout ratio is 9.28%.
Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.
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NEW YORK (AP) — The U.S. stock market climbed again Tuesday on hopes for a coming cut to interest rates.
The S&P 500 rose 0.9% after breaking out of a morning lull and is back within 1.8% of its all-time high. The Dow Jones Industrial Average rallied 664 points, or 1.4%, and the Nasdaq composite gained 0.7%.
Stocks got a boost from easing yields in the bond market. Lower interest rates can cover up many sins in financial markets, including prices going too high, and hopes are strong that the Federal Reserve will cut its main interest rate at its next meeting to juice the economy further.
A raft of mixed economic data on Tuesday left traders betting on a nearly 83% probability that the Fed will cut in December, according to data from CME Group. That’s roughly the same as a day before and up sharply from the coin flip’s chance that they saw just a week ago.
Easier rates can boost the economy by encouraging households and companies to borrow more and investors to pay higher prices for investments than they would otherwise.
A third report, meanwhile, said inflation at the wholesale level was a touch worse in September than economists expected, but a closely tracked underlying trend was slightly better. That’s important because lower interest rates can make inflation worse, and high inflation is the main deterrent that could keep the Fed from cutting rates.
After taking all the data together, economists suggested the Fed and its chair, Jerome Powell, could be leaning toward cutting rates on Dec. 10. The Fed has already cut rates twice this year in hopes of shoring up the slowing job market.
“Taking a pause on rate cuts would probably do more damage to sentiment than a cut would help,” according to Brian Jacobsen, chief economist at Annex Wealth Management, who also said “Powell doesn’t need to be the Grinch that stole Christmas.”
Easier interest rates can give particularly big boosts to smaller companies, because many of them need to borrow to grow. The Russell 2000 index of the smallest U.S. stocks jumped 2.1% to lead the market.
Elsewhere on Wall Street, several retailers leaped after delivering stronger profits for the summer than analysts expected.
Abercrombie & Fitch soared 37.5% after the apparel seller reported a better profit than expected. It also raised the bottom end of its forecasted range for revenue and profit over the full year.
Kohl’s surged 42.5% after reporting a profit for the latest quarter, when analysts were expecting a loss. Best Buy rose 5.3% after boosting its profit forecast for the full year following a better-than-expected third quarter, citing strength across computing, gaming and mobile phones.
Dick’s Sporting Goods erased an early drop of 4% to add 0.2%. It raised its forecast for results at its Dick’s stores, though its purchase of Foot Locker is requiring some work. Executive Chairman Ed Stack said the company is “cleaning out the garage” at Foot Locker by clearing inventory, closing poorly performing stores and making other moves.
Alphabet rose another 1.5%, continuing a strong run on excitement about its recently released Gemini AI model. Chinese giant Alibaba, meanwhile, saw its stock that trades in the United States fall 2.3% after losing an early gain. It reported stronger revenue than analysts expected for the latest quarter thanks in part to the AI boom, but its overall profit fell short of forecasts.
Some chip companies dropped sharply following a report from The Information that Meta Platforms is in talks to spend billions of dollars on AI chips from Alphabet instead of them. Nvidia sank 2.6% and Advanced Micro Devices dropped 4.1%.
All told, the S&P 500 rose 60.76 points to 6,765.88. The Dow Jones Industrial Average rallied 664.18 to 47,112.45, and the Nasdaq composite gained 153.59 to 23,025.59.
In the bond market, the yield on the 10-year Treasury eased to 4.00% from 4.04% late Monday.
In stock markets abroad, indexes rose across Europe and Asia. Germany’s DAX returned 1%, and stocks in Shanghai climbed 0.9% for two of the world’s bigger moves.
Fears about the artificial intelligence boom turning into an overblown bubble have diminished for now, thanks to a stellar earnings report from Nvidia that illustrated why its indispensable chips transformed it into the world’s most valuable company.
But that doesn’t mean the specter of an AI bubble won’t return in the months and years ahead as Big Tech gears up to spend trillions of dollars more on a technology the industry’s leaders believe will determine the winners and losers during the next wave of innovation.
For now, at least, Nvidia has eased worries that the AI craze propelling the stock market and much of the economy for the past year is on the verge of a massive collapse.
If anything, Nvidia’s quarterly report indicated that AI spending is picking up even more momentum. The highlights, released late Wednesday, included quarterly revenue of $57 billion, a 62% increase from the same time last year. That sales growth was an acceleration from the 56% increase in year-over-year revenue from the May-July quarter.
What’s more, Nvidia forecast revenue of $65 billion for the current quarter covering November-January, which would be a 65% year-over-year increase.
Given Nvidia’s forecasts, “it is very hard to see how this stock does not keep moving higher from here,” according to analysts at UBS led by Timothy Arcuri. The UBS analyst also said the “AI infrastructure tide is still rising so fast that all boats will be lifted.”
Nvidia’s numbers are viewed through a window that extends far beyond the Santa Clara, California, company’s headquarters because its products are needed by a wide range of companies — including Big Tech peers like Microsoft, Amazon, Alphabet and Meta Platforms — to build data centers that are becoming known as AI factories.
“AI spending isn’t just holding up, it’s accelerating. That’s exactly what the market needed to see,” said Jake Behan, head of capital markets for investment firm Direxion.
The numbers initially lifted Nvidia’s stock price by as much as 5% in Thursday’s trading, while other tech stocks tied to the AI spending frenzy also got a boost. But Nvidia’s shares and other tech stocks reversed course later in the session as investors found other issues besides AI, such as the government’s latest jobs report and the future direction of interest rates.
Even with a 3% drop in its stock price amid the broader market decline, Nvidia remains valued at $4.4 trillion, more than 10 times its valuation three years ago when OpenAI released its ChatGPT chatbot, triggering the biggest technological shift since Apple released the iPhone in 2007.
Nvidia’s rapid rise has turned its CEO Jensen Huang into the chief evangelist for the AI revolution and he sought to use his bully pulpit during a late Wednesday conference call with industry analysts to make a case that the spending to make technology with humanlike intelligence is just beginning.
“There’s been a lot of talk about an AI bubble. From our vantage point, we see something very different,” Huang insisted while celebrating “depth and breadth” of Nvidia’s growth.
Huang is hardly a lone voice in the wilderness. A recent report from Gartner Inc. estimates that worldwide spending on AI will rise to more than $2 trillion next year, a 37% increase from the nearly $1.5 trillion that the research firm expects to be spent this year.
But it remains to be seen if all that money pouring into AI will actually produce all the profits and productivity that proponents have been promising. That leaves the question unanswered if all the real spending that’s happening will be worth it.
The most recent survey of global fund managers by Bank of America showed a record percentage of investors saying companies are “overinvesting.”
Big Tech is already so profitable that many of the most successful finance their spending sprees with their ongoing stream of revenue and cash hoards in their bank accounts. But some companies, such as Meta Platforms and Oracle, are relying more heavily on debt to fund their AI ambitions — a strategy that has raised enough alarms among investors that their stock prices have plunged more dramatically than their peers in recent weeks.
Both Meta and Oracle have suffered more than 20% declines in their stock prices since late October.
But other Big Tech powerhouses leading the way in AI remain just behind Nvidia and iPhone maker Apple in the rankings of the most valuable companies. Alphabet, Microsoft and Amazon boast market values currently ranging from $2.3 trillion to $3.6 trillion.
“It is true that valuations are high and that there is some froth in the market, however, the spending on AI is real,” said Chris Zaccarelli, chief investment officer for money manager Northlight Asset Management. “Whether or not the spending turns out to be overdone won’t be known for many years.”
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AP Business Writer Stan Choe in New York contributed to this story.
SAN FRANCISCO (AP) — Meta has prevailed over an existential challenge to its business that could have forced the tech giant to spin off Instagram and WhatsApp after a judge ruled that the company does not hold a monopoly in social networking.
U.S. District Judge James Boasberg issued his ruling Tuesday after the historic antitrust trial wrapped up in late May. His decision runs in sharp contrast to two separate rulings that branded Google an illegal monopoly in both search and online advertising, dealing regulatory blows to the tech industry that for years enjoyed nearly unbridled growth.
The Federal Trade Commission “continues to insist that Meta competes with the same old rivals it has for the last decade, that the company holds a monopoly among that small set, and that it maintained that monopoly through anticompetitive acquisitions,” Boasberg wrote in his ruling. “Whether or not Meta enjoyed monopoly power in the past, though, the agency must show that it continues to hold such power now. The Court’s verdict today determines that the FTC has not done so.”
The federal agency had argued that Meta maintained a monopoly by pursuing an expression CEO Mark Zuckerberg made in 2008: “‘It is better to buy than compete.’ True to that maxim, Facebook has systematically tracked potential rivals and acquired companies that it viewed as serious competitive threats.”
During his April testimony, Zuckerberg pushed back against claims that Facebook bought Instagram to neutralize a threat. In his line of questioning, FTC attorney Daniel Matheson repeatedly brought up emails — many of them more than a decade old — written by Zuckerberg and his associates before and after the acquisition of Instagram.
While acknowledging the documents, Zuckerberg has often sought to downplay the contents, saying he wrote the emails early in the acquisition process and that the notes did not fully capture the scope of his interest in the company. But the case was not about the acquisitions of Instagram and WhatsApp more than a decade ago, which the FTC approved at the time, but about whether Meta holds a monopoly now. Prosecutors, Boasberg wrote in the ruling, could only win if they proved “current or imminent legal violation.”
The FTC’s complaint said Facebook also enacted policies designed to make it difficult for smaller rivals to enter the market and “neutralize perceived competitive threats,” just as the world shifted its attention to mobile devices from desktop computers.
Meta said Tuesday’s decision “recognizes that Meta faces fierce competition.”
“Our products are beneficial for people and businesses and exemplify American innovation and economic growth. We look forward to continuing to partner with the Administration and to invest in America,” said Jennifer Newstead, chief legal officer, in a statement.
The social media landscape has changed so much since the FTC filed its lawsuit in 2020, Boasberg wrote, that each time the court examined Meta’s apps and competition, they changed. Two opinions to dismiss the case — filed in 2021 and 2022 — didn’t even mention popular social video platform TikTok. Today, it “holds center stage as Meta’s fiercest rival.”
Quoting the Greek philosopher Heraclitus, “that no man can ever step into the same river twice,” Boasberg said the same is true for the online world of social media as well.
“The landscape that existed only five years ago when the Federal Trade Commission brought this antitrust suit has changed markedly. While it once might have made sense to partition apps into separate markets of social networking and social media, that wall has since broken down,” he wrote.
Emarketer analyst Minda Smiley said Meta’s win “is not necessarily surprising considering the lengths it’s gone to in recent years to keep up with TikTok.”
“But from a regulatory standpoint, Meta is far from out of the woods: next year, major social networks will face landmark trials in the US regarding children’s mental health,” she added. “Still, today’s win is surely a boost for the company as it battles criticism and questions over how its massive AI spending will ultimately benefit Meta in the long run.”
Facebook bought Instagram — then a scrappy photo-sharing app with no ads and a small cult following — in 2012. The $1 billion cash and stock purchase price was eye-popping at the time, though the deal’s value fell to $750 million after Facebook’s stock price dipped following its initial public offering in May 2012.
Instagram was the first company Facebook bought and kept running as a separate app. Up until then, Facebook was known for smaller “acqui-hires” — a type of popular Silicon Valley deal in which a company purchases a startup as a way to hire its talented workers, then shuts the acquired company down. Two years later, it did it again with the messaging app WhatsApp, which it purchased for $22 billion.
WhatsApp and Instagram helped Facebook move its business from desktop computers to mobile devices, and to remain popular with younger generations as rivals like Snapchat (which it also tried, but failed, to buy) and TikTok emerged. However, the FTC has a narrow definition of Meta’s competitive market, excluding companies like TikTok, YouTube and Apple’s messaging service from being considered rivals to Instagram and WhatsApp.
Investors didn’t appear surprised at the ruling. Shares of the Menlo Park, California-based company were down $1.52 at $600.49 in afternoon trading Tuesday, in line with broader market trends.
SAN FRANCISCO (AP) — Google is unleashing its Gemini 3 artificial intelligence model on its dominant search engine and other popular online services in the high-stakes battle to create technology that people can trust to enlighten them and manage tedious tasks.
The next-generation model unveiled Tuesday comes nearly two years after Google took the wraps off its first iteration of the technology. Google designed Gemini in response to a competitive threat posed by OpenAI’s ChatGPT that came out in late 2022, triggering the biggest technological shift since Apple released the iPhone in 2007.
Google’s latest AI features initially will be rolled out to Gemini Pro and Ultra subscribers in the United States before coming to a wider, global audience. Gemini 3’s advances include a new AI “thinking” feature within Google’s search engine that company executives believe will become an indispensable tool that will help make people more productive and creative.
“We like to think this will help anyone bring any idea to life,” Koray Kavukcuoglu, a Google executive overseeing Gemini’s technology, told reporters.
As AI models have become increasingly sophisticated, the advances have raised worries that the technology is more prone to behave in ways that jumble people’s feelings and thoughts while feeding them misleading information and fawning flattery. In some of the most egregious interactions, AI chatbots have faced accusations of becoming suicide coaches for emotionally vulnerable teenagers.
The various problems have spurred a flurry of negligence lawsuits against the makers of AI chatbots, although none have targeted Gemini yet.
Google executives believe they have built in guardrails that will prevent Gemini 3 from hallucinating or be deployed for sinister purposes such as hacking into websites and computing devices.
Gemini 3 ‘s responses are designed to be “smart, concise and direct, trading cliche and flatter for insight — telling you what you need to hear, not just what you want to hear. It acts as a true thought partner,” Kavukcuoglu and Demis Hassabis, CEO of Google’s DeepMind division, wrote in a blog post.
Besides providing consumers with more AI tools, Gemini 3 is also likely to be scrutinized as a barometer that investors may use to get a better sense about whether the massive torrent of spending on the technology will pay off.
After starting the year expecting to spend $75 billion, Google’s corporate parent Alphabet recently raised its capital expenditure budget from $91 billion to $93 billion, with most of the money earmarked for AI. Other Big Tech powerhouses such as Microsoft, Amazon and Facebook parent Meta Platforms are spending nearly as much — or even more — on their AI initiatives this year.
Investors so far have been mostly enthusiastic about the AI spending and the breakthroughs they have spawned, helping propel the values of Alphabet and its peers to new highs. Alphabet’s market value is now hovering around $3.4 trillion, more than doubling in value since the initial version of Gemini came out in late 2023. Alphabet’s shares edged up slightly Tuesday after the Gemni 3 news came out.
But the sky-high values also have amplified fears of a potential investment bubble that will eventually burst and drag down the entire stock market.
Like Gemini, both ChatGPT and Claude are capable of responding rapidly to conversational questions involving complex topics — a skill that has turned them into the equivalent of “answer engines” that could lessen people’s dependence on Google search.
Google quickly countered that threat by implanting Gemini’s technology into its search engine to begin creating detailed summaries called “AI Overviews” in 2023, and then introducing an even more conversational search tool called “AI mode” earlier this year.
Those innovations have prompted Google to de-emphasize the rankings of relevant websites in its search results — a shift that online publishers have complained is diminishing the visitor traffic that helps them finance their operations through digital ad sales.
The changes have been mostly successful for Google so far, with AI Overviews now being used by more than 2 billion people every month, according to the company. The Gemini app, by comparison, has about 650 million monthly users.
With the release of Gemini 3, the AI mode in Google’s search engine is also adding a new feature that will allow users to click on a “thinking” option in a tab that company executives promise will deliver even more in-depth answers than has been happening so far. Although the “thinking” choice in the search engine’s AI mode initially will only be offered to Gemini Pro and Ultra subscribers, the Mountain View, California, company plans to eventually make it available to all comers.
WASHINGTON (AP) — A team of researchers has uncovered what they say is the first reported use of artificial intelligence to direct a hacking campaign in a largely automated fashion.
The AI company Anthropic said this week that it disrupted a cyber operation that its researchers linked to the Chinese government. The operation involved the use of an artificial intelligence system to direct the hacking campaigns, which researchers called a disturbing development that could greatly expand the reach of AI-equipped hackers.
While concerns about the use of AI to drive cyber operations are not new, what is concerning about the new operation is the degree to which AI was able to automate some of the work, the researchers said.
“While we predicted these capabilities would continue to evolve, what has stood out to us is how quickly they have done so at scale,” they wrote in their report.
The operation targeted tech companies, financial institutions, chemical companies and government agencies. The researchers wrote that the hackers attacked “roughly thirty global targets and succeeded in a small number of cases.” Anthropic detected the operation in September and took steps to shut it down and notify the affected parties.
Anthropic noted that while AI systems are increasingly being used in a variety of settings for work and leisure, they can also be weaponized by hacking groups working for foreign adversaries. The San Francisco-based company, maker of the generative AI chatbot Claude, is one of many tech developers pitching AI “agents” that go beyond a chatbot’s capability to access computer tools and take actions on a person’s behalf.
“Agents are valuable for everyday work and productivity — but in the wrong hands, they can substantially increase the viability of large-scale cyberattacks,” the researchers concluded. “These attacks are likely to only grow in their effectiveness.”
A spokesperson for China’s embassy in Washington did not immediately return a message seeking comment on the report.
Microsoft warned earlier this year that foreign adversaries were increasingly embracing AI to make their cyber campaigns more efficient and less labor-intensive. The head of OpenAI’s safety panel, which has the authority to halt the ChatGPT maker’s AI development, recently told The Associated Press he’s watching out for new AI systems that give malicious hackers “much higher capabilities.”
Anthropic said the hackers were able to manipulate Claude, using “jailbreaking” techniques that involve tricking an AI system to bypass its guardrails against harmful behavior, in this case by claiming they were employees of a legitimate cybersecurity firm.
“This points to a big challenge with AI models, and it’s not limited to Claude, which is that the models have to be able to distinguish between what’s actually going on with the ethics of a situation and the kinds of role-play scenarios that hackers and others may want to cook up,” said John Scott-Railton, senior researcher at Citizen Lab.
The use of AI to automate or direct cyberattacks will also appeal to smaller hacking groups and lone wolf hackers, who could use AI to expand the scale of their attacks, according to Adam Arellano, field CTO at Harness, a tech company that uses AI to help customers automate software development.
“The speed and automation provided by the AI is what is a bit scary,” Arellano said. “Instead of a human with well-honed skills attempting to hack into hardened systems, the AI is speeding those processes and more consistently getting past obstacles.”
AI programs will also play an increasingly important role in defending against these kinds of attacks, Arellano said, demonstrating how AI and the automation it allows will benefit both sides.
Reaction to Anthropic’s disclosure was mixed, with some seeing it as a marketing ploy for Anthropic’s approach to defending cybersecurity and others who welcomed its wake-up call.
“This is going to destroy us – sooner than we think – if we don’t make AI regulation a national priority tomorrow,” wrote U.S. Sen. Chris Murphy, a Connecticut Democrat, on social media.
That led to criticism from Meta’s chief AI scientist Yann LeCun, an advocate of the Facebook parent company’s open-source AI systems that, unlike Anthropic’s, make their key components publicly accessible in a way that some AI safety advocates deem too risky.
“You’re being played by people who want regulatory capture,” LeCun wrote in a reply to Murphy. “They are scaring everyone with dubious studies so that open source models are regulated out of existence.”
HARRISBURG, Pa. (AP) — The forecasts are eye-popping: utilities saying they’ll need two or three times more electricity within a few years to power massive new data centers that are feeding a fast-growing AI economy.
But the challenges — some say the impossibility — of building new power plants to meet that demand so quickly has set off alarm bells for lawmakers, policymakers and regulators who wonder if those utility forecasts can be trusted.
One burning question is whether the forecasts are based on data center projects that may never get built — eliciting concern that regular ratepayers could be stuck with the bill to build unnecessary power plants and grid infrastructure at a cost of billions of dollars.
Meanwhile, consumer advocates are finding that ratepayers in some areas — such as the mid-Atlantic electricity grid, which encompasses all or parts of 13 states stretching from New Jersey to Illinois, as well as Washington, D.C. — are already underwriting the cost to supply power to data centers, some of them built, some not.
“There’s speculation in there,” said Joe Bowring, who heads Monitoring Analytics, the independent market watchdog in the mid-Atlantic grid territory. “Nobody really knows. Nobody has been looking carefully enough at the forecast to know what’s speculative, what’s double-counting, what’s real, what’s not.”
Suspicions about skyrocketing demand
There is no standard practice across grids or for utilities to vet such massive projects, and figuring out a solution has become a hot topic, utilities and grid operators say.
Uncertainty around forecasts is typically traced to a couple of things.
One concerns developers seeking a grid connection, but whose plans aren’t set in stone or lack the heft — clients, financing or otherwise — to bring the project to completion, industry and regulatory officials say.
Another is data center developers submitting grid connection requests in various separate utility territories, PJM Interconnection, which operates the mid-Atlantic grid, and Texas lawmakers have found.
Often, developers, for competitive reasons, won’t tell utilities if or where they’ve submitted other requests for electricity, PJM said. That means a single project could inflate the energy forecasts of multiple utilities.
The effort to improve forecasts got a high-profile boost in September, when a Federal Energy Regulatory Commission member asked the nation’s grid operators for information on how they determine that a project is not only viable, but will use the electricity it says it needs.
“Better data, better decision-making, better and faster decisions mean we can get all these projects, all this infrastructure built,” the commissioner, David Rosner, said in an interview.
The Edison Electric Institute, a trade association of for-profit electric utilities, said it welcomed efforts to improve demand forecasting.
Real, speculative, or ‘somewhere in between’
The Data Center Coalition, which represents tech giants like Google and Meta and data center developers, has urged regulators to request more information from utilities on their forecasts and to develop a set of best practices to determine the commercial viability of a data center project.
The coalition’s vice president of energy, Aaron Tinjum, said improving the accuracy and transparency of forecasts is a “fundamental first step of really meeting this moment” of energy growth.
“Wherever we go, the question is, ‘Is the (energy) growth real? How can we be so sure?’” Tinjum said. “And we really view commercial readiness verification as one of those important kind of low-hanging opportunities for us to be adopting at this moment.”
Igal Feibush, the CEO of Pennsylvania Data Center Partners, a data center developer, said utilities are in a “fire drill” as they try to vet a deluge of data center projects all seeking electricity.
The vast majority, he said, will fall off because many project backers are new to the concept and don’t know what it takes to get a data center built.
States also are trying to do more to find out what’s in utility forecasts and weed out speculative or duplicative projects.
In Texas, which is attracting large data center projects, lawmakers still haunted by a blackout during a deadly 2021 winter storm were shocked when told in 2024 by the grid operator, the Electric Reliability Council of Texas, that its peak demand could nearly double by 2030.
They found that state utility regulators lacked the tools to determine whether that was realistic.
Texas state Sen. Phil King told a hearing earlier this year that the grid operator, utility regulators and utilities weren’t sure if the power requests “are real or just speculative or somewhere in between.”
Lawmakers passed legislation sponsored by King, now law, that requires data center developers to disclose whether they have requests for electricity elsewhere in Texas and to set standards for developers to show that they have a substantial financial commitment to a site.
Electricity bills are rising, too
PPL Electric Utilities, which delivers power to 1.5 million customers across central and eastern Pennsylvania, projects that data centers will more than triple its peak electricity demand by 2030.
Vincent Sorgi, president and CEO of PPL Corp., told analysts on an earnings call this month that the data center projects “are real, they are coming fast and furious” and that the “near-term risk of overbuilding generation simply does not exist.”
The data center projects counted in the forecast are backed by contracts with financial commitments often reaching tens of millions of dollars, PPL said.
Still, PPL’s projections helped spur a state lawmaker, Rep. Danilo Burgos, to introduce a bill to bolster the authority of state utility regulators to inspect how utilities assemble their energy demand forecasts.
Ratepayers in Burgos’ Philadelphia district just absorbed an increase in their electricity bills — attributed by the utility, PECO, to the rising cost of wholesale electricity in the mid-Atlantic grid driven primarily by data center demand.
That’s why ratepayers need more protection to ensure they are benefiting from the higher cost, Burgos said.
“Once they make their buck, whatever company,” Burgos said, “you don’t see no empathy towards the ratepayers.”
ATLANTA (AP) — It was the worst summer in years. Sechita McNair’s family took no vacations. Her younger boys didn’t go to camp. Her van was repossessed, and her family nearly got evicted — again.
But she accomplished the one thing she wanted most. A few weeks before school started, McNair, an out-of-work film industry veteran barely getting by driving for Uber, signed a lease in the right Atlanta neighborhood so her eldest son could stay at his high school.
As she pulled up outside the school on the first day, Elias, 15, stepped onto the curb in his new basketball shoes and cargo pants. She inspected his face, noticed wax in his ears and grabbed a package of baby wipes from her rental car. She wasn’t about to let her eldest, with his young Denzel Washington looks, go to school looking “gross.”
He grimaced and broke away.
“No kiss? No hugs?” she called out.
Elias waved and kept walking. Just ahead of him, at least for the moment, sat something his mother had fought relentlessly for: a better education.
The link between where you live and where you learn
Sechita McNair, center, and sons Derrick McNair-White, left, and Malachi McNair-Nesbitt, right, walk to catch a city bus in Jonesboro, Ga. (AP Photo/Brynn Anderson)
Sechita McNair, center, and sons Derrick McNair-White, left, and Malachi McNair-Nesbitt, right, walk to catch a city bus in Jonesboro, Ga. (AP Photo/Brynn Anderson)
Last year, McNair and her three kids were evicted from their beloved apartment in the rapidly gentrifying Old Fourth Ward neighborhood of Atlanta. Like many evicted families, they went from living in a school district that spends more money on students to one that spends less.
Thanks to federal laws protecting homeless and evicted students, her kids were able to keep attending their Atlanta schools, even though the only housing available to them was in another county 40 minutes away. They also had the right to free transportation to those schools, but McNair says the district didn’t tell her about that until the school year ended. Their eligibility to remain in those schools expired at the end of last school year.
Still wounded by the death of his father and multiple housing displacements, Elias failed two classes last year, his freshman year. Switching schools now, McNair fears, would jeopardize any chance he has of recovering his academic life. “I need this child to be stable,” she says.
Bianca Vázquez Toness covers the intersection of education and children’s well-being. She led the nation in showing how many students were missing school after the pandemic — work that was honored as a finalist for the Pulitzer Prize.
With just one week before school started, McNair drove extra Uber hours, borrowed money, secured rental assistance and ignored concerns about the apartment to rent a three-bedroom in the Old Fourth Ward. At $2,200 a month, it was the only “semi-affordable” apartment in the rapidly gentrifying ward that would rent to a single mom with a fresh eviction on her record.
On Zillow, the second-floor apartment, built in 2005, looked like a middle-class dream with its granite countertops, crown molding and polished wood floors. But up close, the apartment looked abused and held secrets McNair was only beginning to uncover.
The first sign something was wrong came early. When she first toured the apartment, it felt rushed, like the agent didn’t want her to look too closely. Then, even as they told her she was accepted, the landlord and real estate agent wouldn’t send her a “welcome letter” laying out the agreement, the rent and deposit she would pay. It seemed like they didn’t want to put anything in writing.
When the lease came, it was full of errors. She signed it anyway. “We’re back in the neighborhood!” she said. Elias could return to Midtown High School.
But even in their triumph, no one in the family could relax. Too many things were uncertain. And it fell to McNair — and only McNair — to figure it out.
The first day back
Sechita McNair, left, talks to her oldest son, Elias Washington, before he walks into Midtown High School for the first day of school on Aug. 4 in Atlanta. (AP Photo/Brynn Anderson)
Sechita McNair, left, talks to her oldest son, Elias Washington, before he walks into Midtown High School for the first day of school on Aug. 4 in Atlanta. (AP Photo/Brynn Anderson)
Midtown is a high school so coveted that school administrators investigate student residency throughout the year to keep out kids from other parts of Atlanta and beyond. For McNair, the day Elias returned to the high school was a momentous one.
“Freedom!” McNair declared after Elias disappeared into the building. Without child care over the summer, McNair had struggled to find time to work enough to make ends meet. Now that the kids were back in class, McNair could spend school hours making money and resolving some of the unsettled issues with her new apartment.
McNair, the first person in her family to attend college, studied theater management. Her job rigging stage sets was lucrative until the writers’ and actors’ strike and other changes paralyzed the film industry in 2023. The scarcity of work on movie sets, combined with her tendency to take in family and non-family alike, wrecked her home economy.
The family was evicted last fall when McNair fell behind on rent because of funeral expenses for her foster daughter. The teen girl died from an epileptic seizure while McNair and everyone else slept. Elias found her body.
McNair attributes some of Elias’s lack of motivation at school to personal trauma. His father died after a heart attack in 2023, on the sidelines of Elias’s basketball practice.
Elias Washington talks to a friend on the phone as he walks to Midtown High School in Atlanta. (AP Photo/Brynn Anderson)
Elias Washington talks to a friend on the phone as he walks to Midtown High School in Atlanta. (AP Photo/Brynn Anderson)
On his first day back at school this August, Elias appeared excited but tentative. He watched as the seniors swanned into school wearing gold cardboard crowns, a Midtown back-to-school tradition, and scanned the sidewalk for anyone familiar.
If Elias had his way, his mom would homeschool him. She’s done it before. But now that he’s a teenager, it’s harder to get Elias to follow her instructions. As the only breadwinner supporting three kids and her disabled uncle, she has to work.
Elias hid from the crowds and called up a friend: “Where you at?” The friend, another sophomore, was still en route. Over the phone, they compared outfits, traded gossip about who got a new hairdo or transferred. When Elias’s friend declared this would be the year he’d get a girlfriend, Elias laughed.
When it was time to go in, Elias drifted toward the door with his head down as other students flooded past.
The after-school pickup
Hours later, he emerged. Despite everything McNair had done to help it go well — securing the apartment, even spending hundreds of dollars on new clothes for him — Elias slumped into the backseat when she picked him up after class.
“School was so boring,” he said.
“What happened?” McNair asked.
“Nothing, bro. That was the problem,” Elias said. “I thought I was going to be happy when school started, since summer was so horrible.”
Of all of the classes he was taking — geometry, gym, French, world history, environmental science — only gym interested him. He wished he could take art classes, he said. Elias has acted in some commercials and television programs, but chose a science and math concentration, hoping to study finance someday.
After dinner at Chick-fil-A, the family visited the city library one block from their new apartment. While McNair spoke to the librarian, the boys explored the children’s section. Malachi, 6, watched a YouTube video on a library computer while Derrick, 7, flipped through a book. Elias sat in a corner, sharing video gaming tips with a stranger he met online.
“Those people are learning Japanese,” said McNair, pointing to a group of adults sitting around a cluster of tables. “And this library lets you check out museum passes. This is why we have to be back in the city. Resources!”
McNair wants her children to go to well-resourced schools. Atlanta spends nearly $20,000 per student a year, $7,000 more than the district they moved to after the eviction. More money in schools means smaller classrooms and more psychologists, guidance counselors and other support.
But McNair, who grew up in New Jersey near New York City, also sees opportunities in the wider city of Atlanta. She wants to use its libraries, e-scooters, bike paths, hospitals, rental assistance agencies, Buy Nothing groups and food pantries.
“These are all resources that make it possible to raise a family when you don’t have support,” she said. “Wouldn’t anyone want that?”
Support is hard to come by
Sechita McNair, right, and sons Derrick McNair-White, center, and Malachi McNair-Nesbitt, left, ride an escalator to take the MARTA train on June 11 in Atlanta. (AP Photo/Brynn Anderson)
Sechita McNair, right, and sons Derrick McNair-White, center, and Malachi McNair-Nesbitt, left, ride an escalator to take the MARTA train on June 11 in Atlanta. (AP Photo/Brynn Anderson)
On the way home, the little boys fall asleep in the back seat. Elias asks, “So, is homeschooling off the table?”
McNair doesn’t hesitate. “Heck yeah. I’m not homeschooling you,” she says lightly. “Do you see how much of a financial bind I’m in?”’
McNair pulls into the driveway in Jonesboro, the suburb where the family landed after their eviction. Even though the family wants to live in Atlanta, their stuff is still here. It’s a neighborhood of brick colonials and manicured lawns. She realizes it’s the dream for some families, but not hers. “It’s a support desert.”
As they get out of the car, Elias takes over as parent-in-charge. “Get all of your things,” he directs Malachi and Derrick, who scowl as Elias seems to relish bossing them around. “Pick up your car seats, your food, those markers. I don’t want to see anything left behind.” Elias would be responsible for making the boys burritos, showering them and putting them to sleep.
McNair heads out to drive for Uber. That’s what is necessary to pay $450 a week to rent the car and earn enough to pay her rent and bills.
But while McNair is out, she can’t monitor Elias. And a few days after he starts school, Elias’s all-night gaming habit has already drawn teachers’ attention.
“I wanted to check in regarding Elias,” his geometry teacher writes during the first week of school. “He fell asleep multiple times during Geometry class this morning.”
Elias had told the teacher he went to bed around 4 a.m. the night before. “I understand that there may be various reasons for this, and I’d love to work together to support Elias so he can stay focused and successful in class.”
A few days later, McNair gets a similar email from his French teacher.
That night, McNair drives around Atlanta, trying to pick up enough Uber trips to keep her account active. But she can’t stop thinking about the emails. “I should be home making sure Elias gets to bed on time,” she says, crying. “But I have to work. I’m the only one paying the bills.”
Obstacles keep popping up
Sechita McNair arrives at her new Atlanta apartment on Aug. 1 to find a door that she says looks like it was forced open. (AP Photo/Brynn Anderson)
Sechita McNair arrives at her new Atlanta apartment on Aug. 1 to find a door that she says looks like it was forced open. (AP Photo/Brynn Anderson)
Ever since McNair rented the Atlanta apartment, her bills had doubled. She wasn’t sure when she’d feel safe giving up the house she’d been renting in Clayton County, given the problems with the Atlanta apartment. For starters, she was not even sure it was safe to spend the night there.
A week after school started in August, McNair dropped by the apartment to check whether the landlords had made repairs. At the very least, she wanted more smoke detectors.
She also wanted them to replace the door, which looked like someone had forced it open with a crowbar. She wanted a working fridge and oven. She wanted them to secure the back door to the adjoining empty apartment, which appeared to be open and made her wonder if there were pests or even people squatting there.
But on this day, her keys didn’t work.
She called 911. Had her new landlords deliberately locked her out?
When the police showed up outside the olive-green, Craftsman-style fourplex, McNair scrolled through her phone to find a copy of her lease. Then McNair and the officer eyed a man walking up to the property. “The building was sold in a short sale two weeks ago,” he told McNair. The police officer directed the man to give the new keys to McNair.
The next day, McNair started getting emails from an agent specializing in foreclosures, suggesting the new owners wanted McNair to leave. “The bank owns the property and now you are no longer a tenant of the previous owner,” she wrote. The new owner “might” offer relocation assistance if McNair agreed to leave.
McNair consulted attorneys, who reassured her: It might be uncomfortable, but she could stay. She needed to try to pay rent, even if the new owner didn’t accept it.
So McNair messaged the agent, asking where she should send the rent, and requested the company make necessary repairs. Eventually, the real estate agent stopped responding.
Some problems go away, but others emerge
Finally, McNair moved her kids and a few items from the Jonesboro house to the Atlanta apartment. She didn’t allow Elias to bring his video game console to Atlanta. He started going to bed around 11 p.m. most nights. But even as she solved that problem, others emerged.
It was at Midtown’s back-to-school night in September that McNair learned Elias was behind in most of his classes. Some teachers said maybe Midtown wasn’t the right school for Elias.
Perhaps they were right, McNair thought. She’d heard similar things before.
Sechita McNair, center, rests in the summer heat as she works to repair her family van, while adopted son Derrick McNair-White, 6, right, plays in the driveway of their rented home in Jonesboro, Ga. (AP Photo/Brynn Anderson)
Sechita McNair, center, rests in the summer heat as she works to repair her family van, while adopted son Derrick McNair-White, 6, right, plays in the driveway of their rented home in Jonesboro, Ga. (AP Photo/Brynn Anderson)
Elias also didn’t want to go to school. He skipped one day, then another. McNair panicked. In Georgia, parents can be sent to jail for truancy when their kids miss five unexcused days.
McNair started looking into a homeschooling program run by a mother she follows on Facebook. In the meantime, she emailed and called some Midtown staff for advice. She says she didn’t get a response. Finally, seven weeks after the family’s triumphant return to Midtown, McNair filed papers declaring her intention to homeschool Elias.
It quickly proved challenging. Elias wouldn’t do any schoolwork when he was home alone. And when the homeschooling group met twice a week, she discovered, they required parents to pick up their children afterward instead of allowing them to take public transit or e-scooters. That was untenable.
Elias wanted to stay at home and offered to take care of McNair’s uncle, who has dementia. “That was literally killing my soul the most,” said McNair. “That’s not a child’s job.”
Hell, no, she told him — you only get one chance at high school.
Elias Washington watches a video on his phone as he rests on a bed left by a previous tenant in his family’s new apartment in Atlanta. (AP Photo/Brynn Anderson)
Elias Washington watches a video on his phone as he rests on a bed left by a previous tenant in his family’s new apartment in Atlanta. (AP Photo/Brynn Anderson)
Then, one day, while she was loading the boys’ clothes into the washing machine at the Atlanta apartment, she received a call from an unknown Atlanta number. It was the woman who heads Atlanta Public Schools’ virtual program, telling her the roster was full.
McNair asked the woman for her opinion on Elias’s situation. Maybe she should abandon the Atlanta apartment and enroll him in the Jonesboro high school.
Let me stop you right there, the woman said. Is your son an athlete? If he transfers too many times, it can affect his ability to play basketball. And he’d probably lose credits and take longer to graduate. He needs to be in school — preferably Midtown — studying for midterms, she said. You need to put on your “big mama drawers” and take him back, she told McNair.
The next day, Elias and his mother pulled up to Midtown. Outside the school, Elias asked if he had to go inside. Yes, she told him. This is your fault as much as it’s mine.
Now, with Elias back in school every day, McNair can deliver food through Uber Eats without worrying about a police officer asking why her kid isn’t in school. If only she had pushed harder, sooner, for help with Elias, she thought. “I should have just gone down to the school and sat in their offices until they talked to me.”
Sechita McNair, center, and sons Derrick McNair-White, right, and Malachi McNair-Nesbitt, left, have breakfast on the steps of Midtown High School in Atlanta. (AP Photo/Brynn Anderson)
Sechita McNair, center, and sons Derrick McNair-White, right, and Malachi McNair-Nesbitt, left, have breakfast on the steps of Midtown High School in Atlanta. (AP Photo/Brynn Anderson)
But it was easy for her to explain why she hadn’t. “I was running around doing so many other things just so we have a place to live, or taking care of my uncle, that I didn’t put enough of my energy there.”
She wishes she could pay more attention to Elias. But so many things are pulling at her. And as fall marches toward winter, her struggle continues. After failing to keep up with the Jonesboro rent, she’s preparing to leave that house before the landlord sends people to haul her possessions to the curb.
As an Uber driver, she has picked up a few traumatized mothers with their children after they got evicted. She helped them load the few things they could fit into her van. As they drove off, onlookers scavenged the leftovers.
She has promised herself she’d never let that happen to her kids.
Dotted Line with Center Square
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The Associated Press’ education coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP’s standards for working with philanthropies, a list of supporters and funded coverage areas at AP.org.
WASHINGTON (AP) — President Donald Trump says his $300 million White House ballroom will be paid for “100% by me and some friends of mine.”
The White House released a list of 37 donors, including crypto billionaires, charitable organizations, sports team owners, powerful financiers, tech and tobacco giants, media companies, longtime supporters of Republican causes and several of the president’s neighbors in Palm Beach, Florida.
It’s incomplete. Among others, the list doesn’t include Carrier Group, which offered to donate an HVAC system for the ballroom, and artificial intelligence chipmaker Nvidia, whose CEO, Jensen Huang, publicly discussed its donation.
The White House hasn’t said how much each donor is giving, and almost none was willing to divulge that. Very few commented on their contributions when contacted by The Associated Press.
A senior White House official said the list has grown since it was first released in October, but some companies don’t want to be publicly named until required to do so by financial disclosure regulations. No foreign individuals or entities were among the donors, according to the official who spoke on condition of anonymity to discuss details that haven’t been made public.
Here’s a look at the divulged donors:
Tech giants (8):
Amazon Background: Trump was once highly critical of company founder Jeff Bezos, who also owns The Washington Post, but has been much less so lately. Amazon donated $1 million to Trump’s inauguration, an event attended by Bezos. Its video streaming service paid $40 million to license a documentary about first lady Melania Trump. Its cloud-based computing operation, Amazon Web Services, is a major government contractor.
Apple Background: After an up-and-down relationship during Trump’s first term, CEO Tim Cook has sought to improve his standing with the president this time. Before returning to the White House, Trump hosted Cook at his Palm Beach estate, Mar-a-Lago, and said he had spoken with Cook about the company’s long-running tax battles with the European Union. Cook also donated $1 million to Trump’s inauguration fund. In the spring, Trump threatened the computing giant with tariffs after Apple announced plans to build manufacturing facilities in India. In August, Cook presented the president with a customized glass plaque with a gold base as the CEO announced plans to bring Apple’s total investment commitment in U.S. manufacturing over four years to $600 billion.
Google Background: During his first term, Trump’s administration sued Google for antitrust violations. While a candidate last year, Trump suggested he might seek to break up the search engine behemoth. Once Trump won the election, Google donated $1 million to his inauguration, and its CEO, Sundar Pichai, joined other major tech executives in attending the ceremony. Google’s subsidiary, YouTube, agreed in September to pay $24.5 million to settle a lawsuit with Trump after it suspended his account following the Jan. 6 riot at the U.S. Capitol. According to court filings, $22 million of that went to the Trust for the National Mall, which can help pay for ballroom construction.
HP Background: An original Silicon Valley stalwart, the company donated to Trump’s inaugural fund. HP ‘s CEO, Enrique Lores, participated in a White House roundtable event in September. Lores also previously met with President Joe Biden at the White House on multiple occasions as top CEOs endorsed that administration’s economic plans.
Meta Background: Founder and CEO Mark Zuckerberg had been critical of Trump going back to 2016, and Facebook suspended Trump for years after the Jan. 6 insurrection. This time around, Meta contributed $1 million to Trump’s inauguration, and Zuckerberg attended.
Micron Technology Background: The producer of advanced memory computer chips announced an April 2024 agreement with the Biden administration to provide $6.1 billion in government support for Micron to make chips domestically. Then, in June, Micron pledged $200 billion for U.S. memory chip manufacturing expansion under Trump. But at least $120 billion of that involved holdovers first announced during Biden’s administration.
Microsoft Background: The company donated $1 million to Trump’s inauguration, twice what it spent for Biden’s or for Trump’s first inauguration. CEO Satya Nadella has also met with Trump numerous times, as Microsoft has supported the administration’s relaxation of regulations on artificial intelligence. He met previously with Biden, too. Trump has called for Microsoft’s president of global affairs, Lisa Monaco, to be fired because she was a deputy attorney general under Biden when the Justice Department led several investigations against Trump.
Palantir Technologies Background: Co-founded by billionaire libertarian Peter Thiel, the firm concentrates on artificial intelligence and machine learning. It has seen profits soar thanks to lucrative defense and other federal contracts.
Ripple Background: In March, the Securities and Exchange Commission dropped a lawsuit filed during Trump’s first term, which accused the company of violating securities laws by selling XRP crypto coins without a securities registration. In his second term, Trump has eased regulations on digital assets, repealing an SEC accounting rule and a previous presidential executive order mandating more federal study and proposed changes to crypto regulations.
Tether Background: A cryptocurrency company and major stablecoin issuer, Tether paid fines for misleading investors. CEO Paolo Ardoino has been to Trump’s White House, and, in April, the company hired former Trump administration crypto policy official Bo Hines to lead its domestic expansion efforts.
Cameron Winklevoss and Tyler Winklevoss Background: Each Winklevoss twin is listed as a separate donor. Best known as Zuckerberg’s chief antagonists in “The Social Network,” the brothers founded the Gemini cryptocurrency exchange. Biden’s SEC sued Gemini for selling unregistered securities, but the case has been paused under Trump.
Energy and industrial (4):
Caterpillar Background: The equipment maker ‘s PAC has donated to candidates from both parties, but given more to Republicans. It has also said publicly that Trump’s tariffs, some of which the administration has now eased, could increase its costs and hurt earnings.
NextEra Energy Background: NextEra is the world’s largest electric utility holding company. Trump says he’ll work to ensure tech giants can secure their own sources of electricity to power data centers, especially as they expand energy-hogging artificial intelligence operations. Google recently entered into an agreement to buy power from a shuttered nuclear power plant in Iowa owned by NextEra, which the company plans to bring back online in 2029.
Paolo Tiramani Background: An American industrial designer who has donated to Trump’s political campaigns. Tiramani, with his son, runs BOXABL, a firm specializing in modular, prefabricated homes.
Union Pacific Background: Trump has endorsed the company’s proposed $85 billion acquisition of Norfolk Southern, which would be the largest-ever rail merger. It also will be up to the president to appoint two more Republican members of the Surface Transportation Board, who will ultimately decide whether to approve the merger. In August, Trump fired one of the two Democratic members of the board.
Philanthropy (3):
Adelson Family Foundation Background: Founded to strengthen the state of Israel and the Jewish people, the foundation was created by Miriam Adelson, the majority owner of the NBA’s Dallas Mavericks, close Trump ally and longtime GOP megadonor. She’s also the widow of Sheldon Adelson, the billionaire founder and owner of Las Vegas Sands.
Betty Wold Johnson Foundation Background: Based in Palm Beach, the foundation supports health, arts and culture initiatives, as well as environmental and educational programs. It’s named in honor of the mother of New York Jets owner Woody Johnson, who served as Trump’s ambassador to the United Kingdom during his first term.
Laura & Isaac Perlmutter Foundation Background: The nonprofit based in Lake Worth Beach, near Palm Beach, focuses on promoting health care, social justice, the arts and community initiatives. Isaac is an Israeli American businessman and financier and former chair of Marvel Entertainment. He and his wife have donated to Trump’s presidential campaigns and affiliated PACs.
Trump administration officials (3):
Benjamin Leon Jr. Background: The Cuban American founder of Miami-based Leon Medical Centers is Trump’s nominee for U.S. ambassador to Spain.
Kelly Loeffler and Jeffrey Sprecher Background: A former Republican senator from Georgia, Loeffler heads Trump’s Small Business Administration. Her husband is CEO of the energy market Intercontinental Exchange Inc. and chairs the New York Stock Exchange. The couple faced scrutiny in 2020 for dumping substantial portions of their portfolio and purchasing new stocks, including in firms making protective equipment, after Congress received briefings on the severity of the coming coronavirus pandemic.
Lutnick Family Background: Howard Lutnick is Trump’s commerce secretary. A crypto enthusiast, he once headed the brokerage and investment bank Cantor Fitzgerald.
Communications/entertainment (3):
Comcast Background: The mass media and telecom conglomerate has often been criticized by Trump, including in April, when the president posted that Comcast was a “disgrace to the integrity of broadcasting.” The company owns NBC and is spinning off MSNBC. It could be interested in acquiring Warner Bros. Discover, and that would leave Comcast looking for government approval.
Hard Rock International Background: A Florida-based gaming and tourism concern owned by the Seminole Tribe, the company operates a number of casinos, including the former Trump Taj Mahal casino in Atlantic City, New Jersey. Trump has for decades criticized federal exemptions allowing tribes to operate casinos.
T-Mobile Background: The wireless carrier is indirectly linked to Trump Mobile, which the president’s family controls and offers gold phones and cell service in a licensing deal. Trump Mobile uses Liberty Mobile Wireless, a small, Florida-based network that T-Mobile says runs its operations on T-Mobile’s network. T-Mobile says that is unrelated to its decision to donate to Trump’s ballroom, which it says is meant to “restore and enrich the historic landmarks that define our nation’s capital.”
Big Tobacco (2):
Altria Group Background: The tobacco giant controls Philip Morris USA, maker of Marlboro. It has pressed for federal crackdowns on counterfeit and illegal vaping products. The company donated $50,000 to Trump’s inauguration.
Booz Allen Hamilton Background: A major defense and national security technology firm with extensive government contracts, it paid fines to settle lawsuits with the Justice Department under Biden. Booz Allen Hamilton agreed to pay more than $377 million in 2023 to settle allegations that it improperly billing costs to its government contracts. In January, it paid nearly $16 million to settle allegations that it submitted fraudulent claims in connection with government contracts.
Lockheed Martin Corporation Background: The massive defense contractor has huge government contracts. It said in a statement that it “is grateful for the opportunity to help bring the President’s vision to reality and make this addition to the People’s House.”
Individuals (7):
Stefan E. Brodie Background: A biotech entrepreneur and co-founder of the chemical manufacturing company Purolite, Brodie and his family donated to Trump’s 2024 presidential campaign and affiliated committees. Brodie and his brother, Donald, were convicted in 2002 of circumventing U.S. sanctions on Cuba.
Charles and Marissa Cascarilla Background: Charles Cascarilla is co‑founder of the blockchain firm Paxos. He and his wife are philanthropists who have advocated for financial technology sector deregulation.
J. Pepe and Emilia Fanjul Background: Longtime Republican donors and Palm Beach residents, the couple controls U.S. sugar refining interests that includes the Domino brand.
Edward and Shari Glazer Background: Members of the family that owns the NFL’s Tampa Bay Buccaneers and has a controlling stake in the Manchester United football club, the couple donated to Trump’s campaign. Edward is the founder and CEO of US Property Trust, which operates shopping centers, and the car dealership company US Auto Trust.
Harold Hamm Background: The billionaire oil tycoon and pioneer of hydraulic fracturing heads the oil producer Continental Resources. He’s praised the Trump administration for aggressively moving to purchase oil to replenish the Strategic Petroleum Reserve stockpile.
Stephen A. Schwarzman Background: A Palm Beach resident and chair and CEO of the Blackstone Group, a global private equity firm he helped establish in 1985. Schwarzman has donated to Trump and his PACs previously and led his first-term President’s Strategic and Policy Forum.
Konstantin Sokolov Background: Born in Russia, he immigrated to the U.S. and now heads the Chicago-based private equity firm IJS Investments. Sokolov has donated to many educational and charitable causes in the past, and to Trump’s political campaigns.
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Associated Press writer Darlene Superville contributed to this report.
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This story has been updated to correct the first name of an individual who donated to the White House ballroom. He is Harold Hamm, not Howard Hamm.
Artificial intelligence company Anthropic announced a $50 billion investment in computing infrastructure on Wednesday that will include new data centers in Texas and New York.
Microsoft also on Wednesday announced a new data center under construction in Atlanta, Georgia, describing it as connected to another in Wisconsin to form a “massive supercomputer” running on hundreds of thousands of Nvidia chips to power AI technology.
The latest deals show that the tech industry is moving forward on huge spending to build energy-hungry AI infrastructure, despite lingering financial concerns about a bubble, environmental considerations and the political effects of fast-rising electricity bills in the communities where the massive buildings are constructed.
Anthropic, maker of the chatbot Claude, said it is working with London-based Fluidstack to build the new computing facilities to power its AI systems. It didn’t disclose their exact locations or what source of electricity they will need.
Another company, cryptocurrency mining data center developer TeraWulf, has previously revealed it was working with Fluidstack on Google-backed data center projects in Texas and New York, on the shore of Lake Ontario. TeraWulf declined comment Wednesday.
A report last month from TD Cowen said that the leading cloud computing providers leased a “staggering” amount of U.S. data center capacity in the third fiscal quarter of this year, amounting to more than 7.4 gigawatts of energy, more than all of last year combined.
Oracle was securing the most capacity during that time, much of it supporting AI workloads for Anthropic’s chief rival OpenAI, maker of ChatGPT. Google was second and Fluidstack came in third, ahead of Meta, Amazon, CoreWeave and Microsoft.
Anthropic said its projects will create about 800 permanent jobs and 2,400 construction jobs. It said in a statement that the “scale of this investment is necessary to meet the growing demand for Claude from hundreds of thousands of businesses while keeping our research at the frontier.”
Microsoft has branded its two-story Atlanta data center as Fairwater 2 and said it will be connected across a “high-speed network” with the original Fairwater complex being built south of Milwaukee, Wisconsin. The company said the facility’s densely packed Nvidia chips will help power Microsoft’s own AI technology, along with OpenAI’s and other AI developers.
Microsoft was, until earlier this year, OpenAI’s exclusive cloud computing provider before the two companies amended their partnership. OpenAI has since announced more than $1 trillion in infrastructure obligations, much of it tied to its Stargate project with partners Oracle and SoftBank. Microsoft, in turn, spent nearly $35 billion in the July-September quarter on capital expenditures to support its AI and cloud demand, nearly half of that on computer chips.
The tech industry’s big spending on computing infrastructure for AI startups that aren’t yet profitable has fueled concerns about an AI investment bubble.
Investors have closely watched a series of circular deals over recent months between AI developers and the companies building the costly chips and data centers needed to power their AI products. Anthropic said it will continue to “prioritize cost-effective, capital-efficient approaches” to scaling up its business.
OpenAI had to backtrack last week after its chief financial officer, Sarah Friar, made comments at a tech conference suggesting the U.S. government could help in financing chips needed for data centers. The White House’s top AI official, David Sacks, responded on social media platform X that there “will be no federal bailout for AI” and if one of the leading companies fails, “others will take its place,” though he also added he didn’t think “anyone was actually asking for a bailout.”
OpenAI CEO Sam Altman later confirmed in a lengthy statement that “we do not have or want government guarantees” for the company’s data centers and also sought to address concerns about whether it will be able to pay for all the infrastructure it has signed up for.
“We are looking at commitments of about $1.4 trillion over the next 8 years,” Altman wrote. “Obviously this requires continued revenue growth, and each doubling is a lot of work! But we are feeling good about our prospects there.”
REDWOOD CITY, Calif. (AP) — For the past decade, Dr. Priscilla Chan and her husband Mark Zuckerberg have focused part of their philanthropy on a lofty goal — “to cure, prevent or manage all disease” — if not in their lifetime, then in their children’s. But during that time, they also funded underprivileged schools, immigration reform and efforts around diversity, equity and inclusion.
Now, the billionaire couple is shifting the bulk of their philanthropic resources to Biohub, the pair’s science organization, and focusing on using artificial intelligence to accelerate scientific discovery. The idea is to develop virtual, AI-based cell models to understand how they work in the human body, study inflammation and use AI to “harness the immune system” for disease detection, prevention and treatment.
“I feel like the science work that we’ve done, the Biohub model in particular, has been the most impactful thing that we have done. So we want to really double down on that. Biohub is going to be the main focus of our philanthropy going forward,” Zuckerberg said Wednesday evening at an event at the Biohub Imaging Institute in Redwood City, California. Three other Biohub institutes — in New York, San Francisco and Chicago, focus on addressing different scientific challenges.
Chan and Zuckerberg have pledged 99% of their lifetime wealth — from shares of Meta Platforms, where Zuckerberg is CEO — toward these efforts. Since 2016, when Biohub launched, they have donated $4 billion to basic science research, a figure that does not include operating expenses for running a large-scale computer cluster for life science research. The organization says it is now on track to double that amount over the next decade, with an operating budget of about $1 billion a year.
Last week, singer Billie Eilish told an audience that included Chan and Zuckerberg that rich people should do more to address the world’s problems.
“Love you all, but there’s a few people in here who have a lot more money than me,” she said, to a smattering of applause. “And if you’re a billionaire, why are you a billionaire? And no hate, but give your money away, shorties.”
The Chan Zuckerberg Initiative, the couple’s charitable organization, has been faced with criticism recently for curtailing its other philanthropic work. Earlier this year, it stopped funding grants related to diversity, equity and inclusion, immigration advocacy and other issues currently in the crosshairs of the Trump administration — though the focus has been shifting to science and away from social issues for years, the couple says, long before the 2024 election.
“So we basically looked at the ecosystem of science funding and decided that the place that we can make the biggest impact was on tool development,” Zuckerberg said. “And specifically working on long-term projects, 10 to 15 years, where the output of them was taking on a biological challenge that would produce a tool that scientists everywhere could use to accelerate the pace of science.”
The organization earlier this year scrubbed its website’s mentions of DEI, including a statement saying “People of color and marginalized communities have experienced a long history of exploitation in the name of scientific research, and indeed science has itself been deployed as a tool of oppression.”
“Going forward, Biohub will be our primary philanthropic effort and where we’ll dedicate the vast majority of our resources,” Zuckerberg and Chan said in a blog post Thursday. “We will continue our other philanthropic efforts as well, but the Chan Zuckerberg Initiative will serve as infrastructure and support for our initiatives.”
Zuckerberg and Chan’s increased commitment to science research comes as the Trump administration has cut billions in scientific research and public health funding.
Chan, who had worked as a pediatrician and treated children with rare diseases, says what she wanted “more than anything was a way to see what was happening inside their cells — how genetic mutations were expressed in different cell types and what, exactly, was breaking down.”
“Until now, that kind of understanding has been out of reach. AI is changing that. For the first time, we have the potential to model and predict the biology of disease in ways that can reveal what’s gone wrong and how we can develop new treatments to address it,” she said.
On Thursday, Chan and Zuckerberg also announced that Biohub has hired the team at EvolutionaryScale, an AI research lab that has created large-scale AI systems for the life sciences. Alex Rives, EvolutionaryScale’s co-founder, will serve as Biohub’s head of science, leading research efforts on experimental biology, data and artificial intelligence. The financial terms were not disclosed.
Biohub’s ambition for the next years and decades is to create virtual cell systems that would not have been possible without recent advances in AI. Similar to how large language models learn from vast databases of digital books, online writings and other media, its researchers and scientists are working toward building virtual systems that serve as digital representations of human physiology on all levels, such as molecular, cellular or genome. As it is open source — free and publicly available — scientists can then conduct virtual experiments on a scale not possible in physical laboratories.
Noting that Biohub launched when the couple had their first child, Chan listed off some of the organization’s accomplishments, ranging from building the largest single-cell data set, contributing to one of the largest human cell maps, building sensors to measure inflammation in real-time in living cells and researching rare diseases.
That work continues, with a focus on using AI to advance biomedical research.
“And to anchor it back onto the impact on patients, you know, why do this?” Chan said. “It’s like, why is a virtual cell important? We have cured diseases for mice and for flies and for zebrafish, many, many times. And that’s great. But we want to make sure that we are actually using biology to push the forefront of medicine for people — and that is so promising.”
Denmark’s government on Friday announced an agreement to ban access to social media for anyone under 15, ratcheting up pressure on Big Tech platforms as concerns grow that kids are getting too swept up in a digitized world of harmful content and commercial interests.
The move would give some parents — after a specific assessment — the right to let their children access social media from age 13. It wasn’t immediately clear how such a ban would be enforced: Many tech platforms already restrict pre-teens from signing up. Officials and experts say such restrictions don’t always work.
Such a measure would be among the most sweeping steps yet by a European Union government to limit use of social media among teens and younger children, which has drawn concerns in many parts of an increasingly online world.
Speaking to The Associated Press, Caroline Stage, Denmark’s minister for digital affairs, said 94% of Danish children under age 13 have profiles on at least one social media platform, and more than half of those under 10 do.
“The amount of time they spend online — the amount of violence, self-harm that they are exposed to online — is simply too great a risk for our children,” she said, while praising tech giants as “the greatest companies that we have. They have an absurd amount of money available, but they’re simply not willing to invest in the safety of our children, invest in the safety of all of us.”
No rush to legislation, no loopholes for tech giants
Stage said a ban won’t take effect immediately. Allied lawmakers on the issue from across the political spectrum who make up a majority in parliament will likely take months to pass relevant legislation.
“I can assure you that Denmark will hurry, but we won’t do it too quickly because we need to make sure that the regulation is right and that there is no loopholes for the tech giants to go through,” Stage said. Her ministry said pressure from tech giants’ business models was “too massive.”
That made platforms including TikTok, Facebook, Snapchat, Reddit, X and Instagram subject to fines of up to 50 million Australian dollars ($33 million) for systemic failures to prevent children younger than 16 from holding accounts.
Officials in Denmark didn’t say how such a ban would be enforced in a world where millions of children have easy access to screens. But Stage noted that Denmark has a national electronic ID system — nearly all Danish citizens over age 13 have such an ID — and plans to set up an age-verification app. Several other EU countries are testing such apps.
“We cannot force the tech giants to use our app, but what we can do is force the tech giants to make proper age verification, and if they don’t, we will be able to enforce through the EU commission and make sure that they will be fined up to 6% of their global income.”
Aiming to shield kids from harmful content online
Many governments have been grappling with ways of limiting harmful fallout from online technologies, without overly squelching their promise. Stage said Denmark’s legislative push was “not about excluding children from everything digital” — but keeping them away from harmful content.
China — which manufacturers many of the world’s digital devices — has set limits on online game time and smart-phone time for kids.
“Children and young people have their sleep disrupted, lose their peace and concentration, and experience increasing pressure from digital relationships where adults are not always present,” the Danish ministry said. “This is a development that no parent, teacher or educator can stop alone.”
The EU’s Digital Services Act, which took effect two years ago, forbids children younger than 13 to hold accounts on social media like TikTok and Instagram, video sharing platforms like YouTube and Twitch, and sites like Reddit and Discord, as well as AI companions.
Many social media platforms have for years banned anyone 13 or under from signing up for their services. TikTok users can verify their ages by submitting a selfie that will be analyzed to estimate their age. Meta Platforms, parent of Instagram and Facebook, says it uses a similar system for video selfies and AI to help figure out a user’s age.
TikTok said in an email that it recognizes the importance of Denmark’s initiative.
“At TikTok, we have steadfastly created a robust trust and safety track record, with more than 50 preset safety features for teen accounts, as well as age appropriate experiences and tools for guardians such as Family Pairing,” a tool allowing parents, guardians, and teens to customize safety settings.
We look forward to working constructively on solutions that apply consistently across the industry,” it added.
Meta didn’t respond immediately to requests for comment from the AP.
“We’ve given the tech giants so many chances to stand up and to do something about what is happening on their platforms. They haven’t done it,” said Stage, the Danish minister. “So now we will take over the steering wheel and make sure that our children’s futures are safe.”
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AP Business Writer Kelvin Chan contributed to this report.
The Motion Picture Association is asking Meta to stop referring to content shown to teen accounts on Instagram as “guided by PG-13 ratings,” saying it is misleading and could erode trust in its movie ratings system.
A lawyer on behalf of the MPA sent Meta Platforms a cease-and-desist letter asking the tech giant to “immediately and permanently disassociate its Teen Accounts and AI tools from the MPA’s rating system.”
Instagram had announced last month that its teen accounts will be will be restricted to seeing PG-13 content by default. The Motion Picture Association, which runs the film rating system that was established nearly 60 years ago, said at the time that it was not contacted by Meta prior to its announcement.
The MPA says Meta’s claims claims that its Teen Accounts will be “guided by” PG-13 ratings and that its Teen Account content settings are “generally aligned with movie ratings for ages 13+” are “false and highly misleading.” The association’s movie ratings, which range from G to NC-17, are done by parents who watch entire movies and evaluate them to come up with a rating.
“Meta’s attempts to restrict teen content literally cannot be ‘guided by’ or ‘aligned with’ the MPA’s PG-13 movie rating because Meta does not follow this curated process,” the association’s letter says. “Instead, Meta’s content restrictions appear to rely heavily on artificial intelligence or other automated technology measures.”
In a statement, Meta said it updated its teen content policies to be “closer to PG-13 movie standards— which parents already know” so parents can better understand what their teens see on Instagram.
“We know social media isn’t the same as movies, but we made this change to support parents, and we hope to work with the MPA to continue bringing families this clarity,” the company said. Meta added that its intent was never to suggest that it partnered with the MPA or that the material on Instagram had been rated by the movie association.
LONDON (AP) — Artificial intelligence company Stability AI mostly prevailed against Getty Images Tuesday in a British court battle over intellectual property.
Seattle-based Getty had accused Stability AI of infringing its copyright and trademark by scraping 12 million images from its website, without permission, to train its popular image generator, Stable Diffusion.
The closely followed case at Britain’s High Court was among the first in a wave of lawsuits involving generative AI as movie studios, authors and artists challenged tech companies’ use of their works to train AI chatbots.
Tech companies have long argued that “fair use” or “fair dealing” legal doctrines in the United States and United Kingdom allow them to train their AI systems on large troves of writings or images. Tuesday’s ruling provides some clarity but still leaves big unanswered questions over copyright and AI, experts said.
According to the judge’s written ruling, Getty narrowly won its argument that Stability had infringed its trademark, but lost the rest of its case.
Both sides claimed victory.
“This is a significant win for intellectual property owners,” Getty Images said in a statement.
Shares of Getty dipped 3% before the opening bell in the U.S.
Stability, based in London, said it was pleased with the ruling.
“This final ruling ultimately resolves the copyright concerns that were the core issue,” Stability’s General Counsel Christian Dowell said.
Getty had accused Stability of both primary and secondary copyright infringement.
Legal experts said the first one involves the act of reproducing something without permission — similar to a dodgy factory churning out counterfeit Chanel handbags or pirated CDs — while the second involves importing those copies from another country.
In this case, Getty said Stability’s use of its image library to train and develop Stable Diffusion’s AI model amounted to breach of primary copyright. Stability responded that the case doesn’t belong in the United Kingdom because the AI model’s training technically happened elsewhere, on computers run by U.S. tech giant Amazon.
During the three-week trial in June, Getty dropped its primary copyright allegations, in a sign that it didn’t think they would succeed. But it still pursued the secondary infringement claims. Even if Stability’s AI training happened outside the U.K., Getty said offering the Stable Diffusion service to British users amounted to importing unlawful copies of its images into the country.
Justice Joanna Smith rejected Getty’s claims, ruling that Stable Diffusion’s AI didn’t infringe copyright because it doesn’t “store or reproduce any Copyright Works (and has never done so).”
Getty also sued for trademark infringement because its watermark appeared on some of the images generated by Stability’s chatbot.
The judge sided with Getty but added that the case only partially succeeded, and that her findings are “both historic and extremely limited in scope.”
“While I have found instances of trademark infringement, I have been unable to determine that these were widespread,” she said.
Experts said Getty’s move to drop part of its copyright case means AI training is still in legal limbo.
“The decision leaves the U.K. without a meaningful verdict on the lawfulness of an AI model’s process of learning from copyright materials,” said Iain Connor, an intellectual property partner at law firm Michelmores.
Smith said there was “very real societal importance” in deciding how to strike a balance between the creative and tech industries. But she added that the court can only rule on the “diminished” case that remained and couldn’t consider “issues that have been abandoned.”
A Getty spokeswoman declined to say whether there would be an appeal.
Getty is also pursuing a copyright infringement lawsuit in the United States against Stability. It originally sued in 2023 but refiled the case in a San Francisco federal court in August.
The Getty lawsuits are among a slew of cases that highlight how the generative AI boom is fueling a clash between tech companies and creative industries.
AI companies are now fighting more than 50 copyright lawsuits — so many that a tech industry lobby group has called on President Donald Trump for help stop the court fights, saying they threaten AI innovation.
Among the cases, Anthropic agreed to pay $1.5 billion to settle a class-action lawsuit by authors while a federal judge dismissed a similar lawsuit from 13 authors against Meta Platforms. Warner Bros. has sued Midjourney for copyright infringement, as have Disney and Universal in seperate lawsuits, alleging that its image generator creates copyrighted characters.
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AP Technology Writer Matt O’Brien contributed to this report.
We recently published 10 Stocks on Jim Cramer’s Radar. Meta Platforms, Inc. (NASDAQ:META) is one of the stocks Jim Cramer recently discussed.
After social media giant Meta Platforms, Inc. (NASDAQ:META)’s shares fell following its latest earnings report, Cramer took the contrarian view and defended the firm’s CEO, Mark Zuckerberg. The CNBC TV host did not hold back when discussing the firm:
Photo by austin-distel on Unsplash
“[After David Faber commented that Cramer was frustrated with the conference call despite Meta’s sizable user base] I thought that the revenues were terrific. The reaction to the conference call is that, finally we’re at the point where people are spending too much. And he is spending too much. People did not like Mark Zuckerberg’s assurance that you have to spend.
