META

Meta executive Andrew Bosworth was asked at a Q&A if AI gains could be used to take more time off. Bosworth replied that it should instead be used to build "cooler stuff" for Meta users.

A New Mexico state court ordered Meta Platforms, owner of Facebook and Instagram, to make major changes to its platforms and pay the largest sum yet in a growing wave of U.S. litigation over claims that social media harms young people.

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Alphabet (NASDAQ: GOOG | GOOG Price Prediction) and Meta Platforms (NASDAQ: META) both dropped Q2 2026 results in late July, with sharply diverging results.

Meta Platforms was ordered to pay $942 million in a New Mexico case over harm to children, but investors may be more concerned about the growing wave of similar lawsuits.

Stock futures are pointing higher as the major indexes look to close out their best week in months; the government's July jobs report is expected to show a pickup in hiring from June; Cloudflare shares are jumping after a strong earnings report and raised outlook; Atlassian shares are also soaring after better-than-expected results; and a New Mexico judge has ruled that Meta must create a $567 million fund for those harmed by social media. Here's what you need to know today.

A New Mexico Court judge on Thursday ordered Meta to pay a fine of $567 million, on top of the $375 million levied in March, in a case regarding social media harms and addiction. This brings the total fines the company has to pay to $942 million.

The ruling compared Meta to a polluting factory and said: “the Court finds and concludes that, just as noxious pollution produced by the factory can harm the common public right to reasonably clean air, the harmful effects of Meta's platforms on children do not stay contained by its platforms and, instead, migrate to the internet as a whole and, perhaps most concerning, to the real world and create a common, societal burden on and harm to the affected children and their families and schools, as well as hospitals and law enforcement.”

Meta's advertising operations will continue to propel its revenue and profit gains. Sales from cloud computing and AI glasses might contribute materially to the financials.

A New Mexico court has ordered Instagram and Facebook parent company Meta to pay $567 million to address harms to young people from its platforms in the second phase of a landmark trial.