Meta Platforms Inc. (NASDAQ:META) is experiencing significant issues with its AI-powered ad tools, particularly the Advantage Plus shopping campaigns, leading to wasted ad budgets and lost sales for businesses. The problems, which began around Valentine's Day, have caused an increase in cost per impressions (CPMs) and a failure to generate sales, prompting businesses to reconsider their advertising strategies on Meta's platforms. Despite some refunds to affected businesses, Meta denies any glitches, insisting the tools are functioning as intended. This situation is compounded by Meta's recent legal challenges and offers an opportunity for competitors like Elon Musk's social media platform, X, to attract advertisers.