Good evening, you're listening to Markets Desk.
Meta is moving aggressively to fund its AI ambitions, and the structural story here matters as much as the spending one. Zuckerberg acknowledged that both the Muse AI agent and Reality Labs remain deeply unprofitable, with Reality Labs alone expected to burn through fifteen billion dollars next year. To lock in his long-term vision, Meta's board created an entirely new share class designed to keep Zuckerberg in permanent control, cementing what the company calls its founder-led model even as investors absorb the cost of that ambition.
Turning to the broader tape, tech stocks found their footing Monday after a rough Friday close, with the Nasdaq recovering most of its losses. The catalysts were spread across the AI supply chain — bullish signals from SpaceX, Anthropic, and Nvidia each reinforced confidence that enterprise demand for AI infrastructure remains intact. That kind of broad-based reassurance tends to carry more weight than a single earnings beat.
Not everything in the AI infrastructure trade is holding up, though. CoreWeave is under serious pressure, with shares down twenty-nine percent in October alone. Bond yields spiking against the company's heavy debt load have widened credit default swap spreads meaningfully, and that combination of equity erosion and credit stress is exactly the signal institutional investors watch most closely.
That's the tape. Markets Desk, signing off the floor.
