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Meta Unveils $115–$135 Billion 2026 AI Capex After Strong Quarter

Investors signaled confidence after Meta projected higher 2026 operating income despite heavier spending.

Overview

  • Meta reported Q4 2025 revenue of $59.9 billion, up 24% year over year, and EPS of $8.88, with ad revenue about $58.1 billion as AI improved targeting and rankings.
  • The company guided 2026 total expenses to $162–$169 billion and said the infrastructure build targets “personal superintelligence.”
  • Shares rose roughly 10% in extended trading after the beat and a Q1 revenue outlook of $53.5–$56.5 billion that topped forecasts.
  • Planned capex nearly doubles 2025’s $72.22 billion, reflecting data center expansion, higher depreciation, and third‑party cloud costs.
  • CFO Susan Li said margins will face pressure, compute capacity remains tight, and more than 3.5 billion people use at least one Meta app daily.