Meta narrows annual capex forecast as AI buildout grows

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Click here to return to FAST Tap here to return to FAST FAST July 29 : Meta Platforms narrowed the range of its forecast for annual capital expenditure on Wednesday, as the social media giant doubles down on building a fleet of data centers to expand its AI computing powerShares of the company fell about 5 per cent in extended trading.The Facebook parent now expects 2026 capital expenditure to be between $130 billion and $145 billion, compared with its prior forecast of $125 billion to $145 billion.The company also raised the lower-end of its expense outlook to incorporate the $2.

4 billion charges related to legal proceedings recognized in the second quarter. CNA Games Guess Word Crack the word, one row at a time Buzzword Create words using the given letters Mini Sudoku Tiny puzzle, mighty brain teaser Mini Crossword Small grid, big challenge Word Search Spot as many words as you can Show More Show Less Meta said it now expects full-year 2026 total expenses to be in the range of $165 billion to $169 billion, compared with its prior forecast of $162 billion to $169 billion.At the heart of Meta is its advertising business, with Reels battling TikTok and YouTube Shorts for dominance in the short-video market and Threads taking on Elon Musk's X, while AI powers more precise ad targeting and recommendation systems to boost user engagement.

Trend advisory firm Madison and Wall said in June it expects ad revenue to rise by 8.3 per cent to $1.42 trillion in 2026, benefiting from several cyclical sports events, including the Winter Olympics and the FIFA World Cup.

Social media advertising is expected to rise 14 per cent to $421 billion during the year.Ad sales are also powering CEO Mark Zuckerberg's pursuit of superintelligence — a hypothetical concept where AI surpasses human intelligence in every possible way — and the development of its Meta AI assistant and AI smart glasses.Meta results come days after Alphabet's first cash burn on record in the second quarter jolted investors, as soaring AI spending strains one of the world's most profitable companies.

The feverish spending by Big Tech is expected to reach well above $700 billion this year, primarily on AI, while Morgan Stanley has pegged the estimated spend