Meta Platforms gets a downgrade from JPMorgan on massive AI spending forecast

Meta Platform faces a "challenging path" to capitalizing on its costly artificial intelligence as competition in the space heats up, according to JPMorgan. The investment bank downgraded Meta to neutral from overweight. It also slashed its price target on shares to $725 from $825, implying 8% upside from Wednesday's close. Meta reported better-than-expected Q1 results Wednesday after the bell. …