NEW YORK — Shares of Meta Platforms fell more than 2% on Friday, extending a pullback this week as investors weighed concerns about the company's soaring artificial intelligence spending ahead of its quarterly earnings report next week.

Meta shares were down $16.68, or 2.26%, at $720.04 as of 12:17 p.m. Eastern time on the Nasdaq.

The decline follows a 3.27% drop on Wednesday, when the stock closed at $737.54, and a small loss on Thursday. Meta had traded as high as $779.82 over the past 52 weeks and remains well above its low of about $520.

Investor anxiety has centered on how much Meta will spend on AI infrastructure in the coming years.

On Wednesday, Guggenheim analyst Michael Morris raised his estimate for Meta's........

© International Business Times