Meta spent $34.91 billion in capital expenditures during the third quarter of 2026, pushing past the $31.08 billion reported in the previous period as the tech giant accelerates its infrastructure spending for artificial intelligence development.
Led by Chief Executive Officer Mark Zuckerberg, the company narrowed its full-year capital expenditures forecast for 2026 to a range of $135-145 billion, tightening the previous guidance of $130-145 billion issued last quarter. The updated projection aligns closely with Wall Street expectations, which centered around $139.79 billion for the year.
The heavy spending supports massive data centers and expanding computing power required for advanced AI models. Earlier this month on the “Cheeky Pint” podcast, Zuckerberg recounted early internal discussions regarding the massive outlays, noting that he was willing to bet up to $200 billion on artificial intelligence before knowing whether the underlying models would prove successful.
Investor apprehension has marked previous quarters, with Meta shares sliding nearly 10% after third-quarter earnings per share missed Wall Street estimates last year, and dropping 6% the quarter prior following raised capex guidance. This quarter brought a different reception, driven by the rapid adoption of Muse, the company’s new AI assistant.
Muse has scaled the App Store rankings quickly, capturing over 2 million daily users and 3 million total downloads. Users have utilized the assistant for tasks ranging from trip planning to exam preparation, while Alexandr Wang, Meta’s chief AI officer, has highlighted the product by posting memes featuring the assistant’s mascot.
Monetization plans for the application remain unspecified. Meta historically prioritizes scaling user adoption for new products before introducing revenue generation models.
Following the earnings report and narrowed guidance, Meta shares traded up 4.12% in after-hours trading.
