Meta Plans to Offer Full AI Ad Automation This Year
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These days, your business needs total visibility from global shipments to tariff impacts to real-time cash flow. That's NetSuite by Oracle, your AI-powered business management suite trusted by over 41,000 businesses. Download the free e-book, Navigating Global Trade, Three Insights for Leaders at netsuite.com slash minute. Here is your morning brief for Monday, June 2nd. I'm Luke Vargas for The Wall Street Journal.

We are exclusively reporting that Meta plans to allow brands to fully create and target ads using artificial intelligence by the end of next year. According to people familiar with the matter, brands could present an image of the product they want to promote along with a budget goal, with AI creating the entire ad from there, along with deciding on which users to target and personalizing the ad to specific users based on factors like their location.

Advertising accounted for 97% of Meta's overall revenue last year and funds the company's multibillion-dollar investments in AI chips, data centers, and for training AI models.

The Trump administration is expanding its spending review of federal contractors beyond consulting firms to now include 10 technology providers, including Dell and IT firm CDW. That's according to a letter sent by the General Services Administration to 10 companies asking executives to justify their work and find areas to cut.

The U.S. spends more than $80 billion a year on IT products and services. Dell and CDW didn't respond to requests for comment. And Asian steel stocks fell today following comments by President Trump that he plans to double tariffs on steel and aluminum imports to 50 percent starting on Wednesday.

One outlier, Australia's Blue Scope Steel. Shares of the company, which runs a mill in Ohio and sees the U.S. as its top region for growth, has seen its stock rally this year on bets it'll benefit from the U.S. tariffs.

Stock markets in Asia have ended the day lower. European markets are also lower in midday trading. And U.S. stock futures are down ahead of earnings from Campbell's and comments from Federal Reserve Chair Jerome Powell at an international finance conference. And we have got a lot more coverage of the day's news on the WSJ's What's News podcast. You can add it to your playlist on your smart speaker or listen and subscribe wherever you get your podcasts.

Tariff and trade policies are dynamic, supply chains squeezed, and cash flow tighter than ever. You need total visibility from global shipments to tariff impacts to real-time cash flow. That's NetSuite by Oracle, your AI-powered business management suite trusted by over 41,000 businesses. NetSuite brings accounting, financial management, inventory, HR into one suite to help you know what's stuck,

What it's costing you and how to pivot fast. If your revenues are at least in the seven figures, download the free ebook, Navigating Global Trade, Three Insights for Leaders at netsuite.com slash minute.