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Meta's AI spending spree is Wall Street's focus in second-quarter earnings

Over the years, Meta has built a reputation for using rivals' innovations to bolster its technology. But its decision to copy a Chinese artificial intelligence lab in 2025 in an effort to compete with OpenAI backfired, forcing the company to overhaul its AI strategy. In a rush to mimic the techniques developed by Chinese startup DeepSeek, Meta released a new version of its Llama family of AI models that disappointed third-party developers, according to people familiar with the matter. The reacti...

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