Meta Lifts 2026 Spending Floor as AI Costs Rise and Earnings Miss

Meta raised its 2026 capital expenditure floor to $130 billion, up from $125 billion, targeting AI infrastructure, and lifted its expense floor to $165 billion. The same day, Q2 earnings per share came in at $6.18 versus the $7.14 analysts expected, weighed down by $2.4 billion in legal charges and $1.18 billion in severance costs.