AI infrastructure and data centers
2026 capital expenditures guided to $130-145B, narrowed from $125-145B in July 2026 after a raise from $115-135B in April.
The numbers
What it is
Spending on GPUs, servers, networking and data centers that train and run Meta's AI models. It includes finance lease principal payments. The largest single build is the Hyperion campus in Louisiana.
Why it matters to the stock. Capex is the largest cost line Meta is raising, and it is the main reason traders watch free cash flow. Traders watch whether the capex guidance rises again.
News
Meta sets Q3 2026 results for October 21 after the close, with a 4:30 p.m. ET call
Meta announced on October 12, 2026 that it will release third-quarter 2026 results on Wednesday, October 21, after the market closes, with the conference call at 1:30 p.m.
Meta Q2 2026: revenue up 28% to $60.8B, but EPS fell 13% and Q3 guidance is $61-64B
Revenue grew 28% to $60.80 billion, while GAAP diluted EPS fell 13% to $6.18 after legal and severance charges and higher spending.
Meta leases 168 MW AI data center capacity in Jamnagar, India, from Reliance
On June 10, 2026 Meta and Reliance Industries announced that Meta will lease capacity at Reliance's new 168-megawatt AI data center in Jamnagar, Gujarat.
JPMorgan downgrades Meta to Neutral from Overweight, cuts target to $725
JPMorgan's Doug Anmuth moved Meta to Neutral from Overweight and lowered his price target to $725 from $825, citing rising AI capex and a harder path to returns beyond advertising.
Meta sells $25 billion of bonds in six parts to fund AI spending
Meta sold $25 billion of investment-grade bonds in six portions, with maturities from five to 40 years, on April 30, 2026.
Meta guides Q2 2026 revenue to $58-61B and raises 2026 capex to $125-145B
In the same April 29 release Meta guided second-quarter 2026 revenue to $58 to 61 billion and raised its 2026 capital expenditure range to $125 to 145 billion from $115 to 135 billion, citing higher component pricing and, to a lesser extent, data center costs.
Meta shares fall more than 6% after hours after raising 2026 capex forecast
Meta shares fell more than 6% in after-hours trading on April 29, 2026, after the company raised its 2026 capital expenditure range to $125 to 145 billion from $115 to 135 billion.
Broadcom and Meta extend MTIA custom AI chip deal, starting with 1 GW
Meta and Broadcom announced on April 14, 2026 an extended partnership to build Meta's MTIA custom AI chips.
CoreWeave signs expanded AI cloud agreement with Meta worth about $21B through 2032
CoreWeave and Meta announced on April 9, 2026 an expanded long-term agreement under which CoreWeave provides AI cloud capacity to Meta for about $21 billion, running through December 2032.
Meta directors Hock Tan and Tracey Travis will not stand for re-election
In an 8-K dated April 8, 2026, Meta disclosed that directors Hock Tan and Tracey Travis told the company they will not stand for re-election at the 2026 annual meeting.
AMD and Meta agree to deploy up to 6 gigawatts of AMD Instinct GPUs
AMD and Meta announced a definitive multi-year, multi-generation deal to deploy up to 6 gigawatts of AMD Instinct GPUs, starting with a custom MI450-based GPU.
Meta and Nvidia sign multiyear, multigenerational AI infrastructure partnership
Meta and Nvidia announced a multiyear, multigenerational partnership covering on-premises, cloud and data center AI infrastructure.
Meta Q4 2025 revenue rises 24% to $59.89B; 2026 capex guided to $115-135B
Meta beat fourth-quarter 2025 expectations, with revenue of $59.89 billion, up 24%, and diluted EPS of $8.88, up 11%.
Meta names Dina Powell McCormick president and vice chairman
Meta appointed former Goldman Sachs executive and Trump national security adviser Dina Powell McCormick as president and vice chairman, a seat on its management team.