In the midst of an artificial intelligence spending spree, Meta posted stronger-than-expected results for the second quarter, buoyed by growing ad revenue even as its expenses increased.

Meta Platforms, parent of Facebook and Instagra, stock surged after the social-media company blew out second-quarter earnings expectations.

Meta just posted monster Q2 earnings — revenue crushed expectations, profitssoared 36%, and the company raised its Q3 guidance like it’s playing with housemoney. But what’s really juicing the stock? AI.