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Christopher K. Cox, Chief Product Officer at Meta Platforms (NASDAQ:META), recently executed a series of stock sales amounting to approximately $13 million. According to a filing with the Securities and Exchange Commission, Cox sold 18,785 shares of Meta’s Class A common stock on February 28, 2025. The sales were conducted at prices ranging from $643.56 to $658.11 per share. The transaction comes as Meta, now valued at $1.66 trillion, maintains a "GREAT" financial health rating according to InvestingPro analysis.
These transactions were carried out through the Christopher K. Cox Revocable Trust, with the shares being sold under a pre-established Rule 10b5-1 trading plan. Following these sales, Cox retains ownership of 290,716 shares in the trust.
This activity comes as part of routine financial management by Cox, who remains a significant stakeholder in Meta Platforms, continuing to hold a substantial number of shares in the company.
In other recent news, Meta is preparing to launch a standalone artificial intelligence application in the second quarter of this year, marking a significant step in its AI strategy. This move aligns with Meta’s plan to introduce a paid subscription service for its AI, akin to OpenAI’s business model. In another development, Apollo Global Management (NYSE:APO) is reportedly in talks to provide a $35 billion financing package for Meta’s U.S. data centers, though discussions are still in early stages. Additionally, Italian Prime Minister Giorgia Meloni met with Meta’s Chief Global Affairs Officer to discuss potential investments in Italy, including AI and technological transitions.
Meta also announced it resolved a glitch that caused inappropriate content to appear in Instagram Reels feeds, addressing user complaints about the issue. Meanwhile, Meta’s ambitious plans for a massive AI data center campus have sparked interest in the power sector, with several companies seeing stock price increases. The data center project, expected to cost over $200 billion, underscores Meta’s commitment to expanding its AI capabilities. This project is part of a broader trend of tech giants, including Microsoft (NASDAQ:MSFT) and Google (NASDAQ:GOOGL), investing heavily in AI infrastructure. Meta’s potential new data center locations include Louisiana, Wyoming, and Texas, with executives reportedly visiting these sites to discuss power requirements.
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