Meta Raises 2026 Capex Guidance to $130 Billion to $145 Billion

EarningsCorporate ActionIndustry Impact 4
โดย 24/7 Wall St.·US·Read original
Summary · why it matters

Meta Platforms raised its full-year 2026 capital expenditure guidance to a range of $130 billion to $145 billion, including principal payments on finance leases, narrowed from a prior $125 billion to $145 billion range in its Q2 2026 report on July 29, 2026. The forward guidance nearly doubles Meta's full-year 2025 capex of $72.215 billion, and Q2 capital expenditures alone reached $31.1 billion, driven by servers, data centers, and network infrastructure. To fund the build, Meta ended Q2 with $90.3 billion in cash and marketable securities and $83.7 billion in debt, and announced a strategic venture with BlackRock to develop a one gigawatt data center in El Paso, Texas. CFO Susan Li said Meta is demand constrained today, and CEO Mark Zuckerberg said the company is receiving quite a number of offers at a meaningful premium over what we paid for the compute, framing direct compute sales as one leg of a portfolio that also includes APIs, business agents, productivity tools, and subscriptions. The strain is visible in the quarterly numbers: Q2 free cash flow was $784 million, down 91.31% year over year, and operating margin compressed to 31% from 43%, even as Q2 revenue reached $60.801 billion, up 27.96% year over year and above the $60.286 billion consensus, with advertising revenue of $59.4 billion, up 27%.

Impact on stocks 3

Artificial Intelligence▲ · 2 stocks
Meta Platforms Inc.
META
± MixedCapitalrelevance

Meta raised 2026 capex guidance to $130-145B, nearly doubling 2025 capex, with Q2 capex of $31.1B and free cash flow down 91% YoY.

Digital Finance & Tokenization▲ · 1 stocks
BlackRock Inc
BLK
▲ PositiveCapitalrelevance

Meta announced a strategic venture with BlackRock to develop a one-gigawatt data center in El Paso, Texas.

Theme Impact 12

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