---
title: "Meta stock dips as $7B scam ad lawsuit and AI cuts loom"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286148007.md"
description: "Meta's stock fell 1.76% to $598.92, underperforming the market. The company faces a lawsuit from Santa Clara County over $7 billion in scam ads, seeking penalties and operational changes. Additionally, Meta plans to cut 8,000 jobs to manage $125–145 billion in AI spending, reflecting a shift towards automation in the industry."
datetime: "2026-05-12T20:01:18.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286148007.md)
  - [en](https://longbridge.com/en/news/286148007.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286148007.md)
---

# Meta stock dips as $7B scam ad lawsuit and AI cuts loom

Stock underperforms peers: Meta shares fell 1.76% to $598.92 despite broader market gains, reflecting technical resistance and sector underperformance. Legal trouble grows: Santa Clara County sued Meta, alleging it knowingly profited from scam ads generating $7 billion annually, seeking penalties and operational changes. AI push drives cuts: Meta will cut 8,000 jobs to offset $125–145 billion in AI spending, highlighting a broader industry shift toward automation over human labor.

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