Meta raises 2026 capex guidance to $125 billion–$145 billion; stock tumbles 6% after hours over infrastructure spending surge

Meta reported Q1 2026 earnings and raised its full-year 2026 capital expenditure guidance to $125 billion to $145 billion, up from a previous range of $115 billion to $135 billion. The company attributed the increase to higher component prices and additional data center costs.

Zuckerberg said Meta is rolling out more than one gigawatt of custom silicon developed with Broadcom, along with significant AMD chips, to complement new Nvidia systems. He stated the company is focused on building leading AI models and products that reach billions of people.

Meta's stock fell more than 6% in after-hours trading following the capex increase, while Alphabet and Amazon—also investing heavily in AI infrastructure—saw share prices rise after reporting AI-related growth in their cloud-services businesses.

Q1 revenues reached $56.3 billion (up 33% year-over-year), operating income rose 30% to $22.9 billion, and profits grew 61% to $26.8 billion. Total expenses grew 35% to $33.4 billion, driven by infrastructure and employee compensation costs.