Meta is trading 8.5% down at $536.00 after second-quarter results showed sharply higher AI-related capital spending and weaker-than-expected earnings.
- Meta raised its 2026 capex forecast to $130–$145 billion, resulting in a 91% collapse in free cash flow.
- Earnings per share missed the $7.17 consensus, triggering a selloff driven by concerns over a significant margin squeeze.