New Delhi, Oct. 22 -- Shares of Meta Platforms plunged 7.5% in Thursday's trade on October 22, to reach $644.30 apiece as investors worried about the social media giant's aggressive bet on artificial intelligence (AI), overshadowing better-than-expected September-quarter results.

During its quarterly earnings report on Wednesday, the parent company of Facebook and Instagram raised its capital spending plans for the year and announced a new class of non-voting shares that could ultimately be used to help fund acquisitions and other expenses.

Meta said it expects full-year capital expenditure (capex) to range from $135 billion to $145 billion, raising the lower end of its previous forecast of $130 billion to $145 billion.

The spending wi...