Meta Platforms extended its rally into Friday, jumping about 6% on the day to notch a nearly 15% weekly gain — its strongest weekly performance in more than two years.

Bank of America Reiterates Buy Rating

Bank of America maintained its buy rating on the stock, pointing to signs the company may be improving its artificial intelligence cost structure.

Internal Memo Fuels Optimism

According to a Reuters review, an internal memo suggested Meta is finding ways to make its AI spending more efficient, easing some investor concerns about the scale of its infrastructure investment.

Part of a Broader Move

The rally follows earlier reports that Meta is building a cloud business to sell excess AI computing capacity, a theme that has driven repeated single-day pops in the stock throughout the month.

Why It Matters

Meta’s swing from AI-spending concerns to cost-efficiency optimism highlights how quickly sentiment can shift for mega-cap tech names as investors reassess the payoff from AI investment.