Mark Cuban says Facebook knowingly runs AI deepfake scam ads as Meta docs reveal $16 billion in fraud-linked revenue

Wells Fargo raised its price target for Meta Platforms (META) to $1,000, citing momentum from its Muse AI assistant. The new target implies 35% upside from Monday's close. Shares rose 0.2% to $743.01 on Tuesday. Analyst Ken Gawrelski expects 2027 to be a low point for profitability due to AI infrastructure investments, with earnings per share projected at $31-$32, below consensus estimates.

Adam Iza, a self-proclaimed crypto entrepreneur, was sentenced to 78 months in prison for stealing $37M from Meta Platforms. He pleaded guilty to conspiracy, wire fraud, and tax evasion. The court ordered $23.4M in restitution. Iza used off-duty deputies to intimidate rivals, extending the case beyond typical crypto fraud.

Wells Fargo raised its price target for Meta (META) to $1,000, implying 35% upside, citing the success of AI agent Muse. The bank reiterated its overweight rating, expecting long-term growth from AI products. Meta's stock has risen 20% since Muse's launch, outperforming the S&P 500.

Meta (META) is under investigation by U.K. regulator Ofcom over potential safety risks related to its new Instagram feature, Instants. The probe focuses on whether Meta assessed illegal content and child safety risks before launch. Ofcom can impose fines up to 18 million or 10% of global revenue. The outcome may impact Meta's product development, compliance costs, and Instagram's role in its business model.

Meta (META) is under UK investigation by Ofcom for potential breaches of the Online Safety Act related to Instagram's new Instants feature. Ofcom is assessing risks to children and illegal content exposure. Meta claims it conducted risk assessments and consulted Ofcom before launch. Separately, Meta faces a $35B-$40B fine in New Mexico over data privacy claims and an $18B teen safety settlement. META stock is up 12.17% YTD.

UK regulator Ofcom is investigating Meta over potential risks of Instagram's Instants feature, which allows users to send disappearing photos. If Meta failed to assess risks properly, it could face a fine up to 10% of its revenue. Meta claims it conducted a risk analysis and cooperates with the investigation. The probe focuses on compliance with the Online Safety Act, not the feature's harm itself. Ofcom has fined other platforms under this act, including 4chan.