“We currently expect another year of similarly significant capital expenditures dollar growth in 2026,” Meta CFO Susan Li said in the earnings release. Analysts said the 2026 outlook suggests Meta will spend roughly $100 billion in capex next year, significantly ahead of earlier expectations among analysts.

Microsoft Corp. has become the second company in the world to reach a $4 trillion market capitalization after reporting quarterly earnings that beat Wall Street’s expectations, sending the stock soaring in premarket Thursday.