Meta Boosts Spending Plans to Grow Its AI Capacity

America’s tech giants aren’t showing signs of slowing AI spending plans despite a stretch of economic uncertainty that has meant tough times for technology shares.

After Meta Platforms (META) late Wednesday reported better-than-expected quarterly earnings, touting its advertising revenue growth, the social media giant said it plans to boost its capital expenditures this year to $64 billion to $72 billion to grow its AI capacity.

CEO Mark Zuckerberg told investors on a conference call…