Meta increases spending on AI while cutting jobs in other areas

Meta is significantly increasing its investment in artificial intelligence. The company is putting an additional $10 billion into a data center in El Paso, Texas, bringing its total investment there to $10 billion. It's also launching new AI glasses and a company-wide push for employees to use more AI tools.

At the same time, Meta is laying off hundreds of employees in other parts of the company. The company is also boosting pay for top executives with stock options as it focuses spending on AI development.