Nvidia is ‘clear beneficiary’ of Meta’s AI spending rush. Its stock is climbing.
Nvidia Corp. is the “clear beneficiary” of Meta Platforms Inc.’s rampant spending on artificial intelligence, according to an analyst. The Facebook parent company now expects to spend $30 billion to $37 billion on capital expenditures this year, whereas it was projecting $30 billion to $35 billion previously. The new “outlook reflects our evolving understanding of …