KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
Meta delivered a strong earnings forecast and hinted at higher AI spending next year, with CEO Mark Zuckerberg outlining a more personalized AI vision for the company.
Key Takeaways:
Meta’s earnings show its core ad business remains strong, still growing its user base across Facebook and Instagram.
Zuckerberg emphasized a personalized AI system, leveraging Meta’s massive social data as a key competitive advantage.
The company has been aggressively hiring AI talent in recent months, suggesting a strategic pivot away from its previous open-source model to a more closed, proprietary approach.
Zuckerberg’s Vision:
Zuckerberg’s video message underscored that Meta’s AI will be designed to know users better than competitors, using its vast network of social connections.
“We are leaning into what makes Meta unique: building AI that’s personal, social, and deeply connected to people’s lives,” he said.
Industry Context:
The move comes as competition in AI heats up, with OpenAI, Google, and Microsoft dominating headlines.
Apple, in contrast, has taken a slower, more cautious approach, focusing on hardware first while keeping AI investment low.
Why It Matters:
Meta’s shift to a personalized, closed AI model marks a significant change in strategy and signals its intent to compete at the top tier of the AI race. Investors are watching whether the company can turn its massive user base into a long-term AI advantage.
Summary: Meta is doubling down on AI with a focus on personalization, signaling higher spending and a strategic shift that could reshape its position in the next wave of tech innovation.
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