Meta Platforms Inc. (FB) stock soared on Thursday after the company announced plans to invest $50 billion over the next five years to develop its AI metaverse, Reuters reports. Meta Connect 2024, the company’s annual developer conference, saw Meta CEO Mark Zuckerberg unveil the new project, which will focus on creating a virtual world where users can interact with AI and each other. The investment will also include hiring 10,000 new employees to work on the project. Meta’s stock price rose by more than 7% following the announcement.