Billionaire Investor Backs Meta And Alphabet As AI Spending Surges

Hedge fund billionaire Daniel Loeb's Third Point LLC added significant positions in Meta Platforms and Alphabet in Q1 FY26, acquiring 90,000 and 175,000 shares respectively. Meta beat earnings expectations with $56.31B revenue and announced increased infrastructure spending, while Alphabet reported strong quarterly earnings of $5.11 per share and plans to raise $80B for AI infrastructure investments. Both companies are aggressively expanding AI capabilities through partnerships, acquisitions, and new product launches.