Meta: Facebook's parent company increases AI spending to new heights

Meanwhile, profits suffered a setback due to changes in accounting. Meta explained that while the budget bill passed by US President Donald Trump in the summer would result in lower taxes in the long run, a restructuring related to the bill led to a one-time tax charge of $15.93 billion. This caused quarterly profits to shrink to $2.7 billion, a decrease of 83 percent compared to the previous year.