<span>STORY: Meta, Microsoft and Tesla kicked off a wave of Big Tech earnings Wednesday, and it was the Facebook parent company that did most to wow investors. </span><span>Meta saw ad revenues surge and forecast first-quarter revenue above Wall Street expectations. </span><span>It also boosted capital expenditure plans by 73% in pursuit of “superintelligence”, or where machines surpass human performance.</span><span>The company will spend up to $135 billion, largely on AI infrastructure. </span><span>Meta shares rose 10% in extended trading following the numbers. </span><span>Microsoft also reported a big increase in capital expenditure.</span><span>But growth slowed at its cloud computing unit, damping investor hopes for a big payoff from the massive spending on artificial intelligence.</span><span>The Windows maker has enjoyed an advantage in the AI race thanks to its early bet on OpenAI.</span><span>But it faces growing competition from rivals like Google and AI agents such as Anthropic’s Claude Cowork.</span><span>They threaten both Microsoft’s AI business and its core software products. </span><span>Shares in the firm dropped over 6% in after-hours trade as investors weighed up the numbers. </span><span>There was a mixed picture at Tesla too. </span><span>Elon Musk’s company says it will invest $2 billion in his AI outfit, xAI.</span><span>It also says production of its Cybercab robotaxi remains on track for this year.</span><span>The news bolsters Musk’s push to reposition Tesla as an AI and robotics company, in a shift that underpins its roughly $1.5 trillion valuation.</span><span>But flagging sales of EVs saw revenue fall about 3% in 2025, marking the company’s first annual decline.</span><span>Demand has been hit as rivals roll out newer models and some buyers are put off by Musk’s often contentious rhetoric. </span><span>Tesla shares rose about 1.8% in after‑hours trade.</span> 
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