Meta Platforms outlines 2026 capex and AI plans, shares stay in focus on Nasdaq

By Anna Wagner, Analysts & Consensus desk. Reviewed prior to publication on 2026-06-26, 07:47.

Meta Platforms (US30303M1027) continues to execute on its multi-year shift toward AI-driven products and infrastructure. The company, whose Class A shares trade on the Nasdaq, has flagged significantly higher capital expenditure for 2025 and 2026 to support data centers and custom chips, according to its latest guidance and commentary. Meta first-quarter 2024 results and capex outlook

What recent guidance implies

In its first-quarter 2024 report, Meta Platforms guided full-year 2024 capital expenditures to a range of 35 to 40 billion US dollars, up from prior indications, mainly to fund AI infrastructure and data center expansion. The company also indicated that capex is expected to continue to grow in 2025 and 2026 as it ramps investment in AI and metaverse-related hardware. Reuters coverage of Meta's AI spending plans

Management has emphasized that these investments are aimed at training and serving larger AI models, improving recommendation systems, and supporting products such as Reels, Feed ranking, and new generative AI assistants across Facebook, Instagram, and WhatsApp. This strategy places Meta in direct competition with peers like Alphabet and Amazon for AI infrastructure scale.

Analyst view and valuation backdrop

Analyst sentiment toward Meta Platforms remains broadly positive, but several research houses have highlighted the tension between heavy AI capex and margin sustainability over the next two years. According to market data aggregators, a majority of analysts rate Meta stock at Buy or equivalent, while some have recently trimmed price targets after the April 2024 earnings update to reflect higher spending and more volatile revenue growth expectations. Morgan Stanley commentary on Meta's AI investment cycle

At the same time, Meta's valuation still reflects robust profitability and cash generation: the company reported a net income of around 12.4 billion US dollars for the first quarter of 2024 on revenue of roughly 36.5 billion dollars, driven by sustained advertising demand and improved cost discipline following earlier restructuring. The stock's performance remains closely watched as a major component of the Nasdaq-100 and a bellwether for global digital advertising trends.

The product behind the stock

Meta Platforms generates the bulk of its revenue from advertising across its Family of Apps, most notably Facebook, Instagram, Messenger, and WhatsApp, by selling targeted ad inventory based on user engagement and data signals. In parallel, the company invests in hardware such as Meta Quest headsets and smart glasses, as well as software platforms for virtual and mixed reality.

Where the stock trades today

Meta Platforms shares last traded around 500 US dollars on the Nasdaq in June 2026, reflecting the companys role as a large-cap technology and communication services stock with significant exposure to digital advertising and AI infrastructure spending.

This article was produced with AI assistance and editorially reviewed. Price and company figures without guarantee; prices and dates may change at short notice. No investment advice, no buy or sell recommendation. Stock-market transactions carry risks up to and including total loss.