Stock jumped 10% after crushing earnings, then gave it all back. The problem? Meta announced they're planning to spend $115-135 billion on capex in 2026. That's up from $72 billion last year. It's absolutely insane. In 2021, they spent $19 billion total. Now they want to spend almost 7x that in a single year? Revenue's growing 24%, user numbers look great, but none of that matters when they're planning to dump this much money into AI infrastructure. Where's the return going to come from? When does this spending stop?
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