Meta tanks 10%, Alphabet climbs 5% as each company raises capex spend

Google CEO Sundar Pichai, arrives for a US Senate bipartisan Artificial Intelligence (AI) Insight Forum at the US Capitol in Washington, DC, on September 13, 2023. Nathan Howard | Getty Images Alphabet 's stock surged more than 5% on Thursday, while Meta shares plunged 10%, as investors digested first-quarter earnings results, which included plans to up the ante on artificial intelligence spending. …