AI EXPOSURE

Meta

Spends like an AI company, earns like an ad company, and discloses no AI revenue at all. The exposure is entirely on the cost side.

AllFactsAI holds no position in Meta (META), as at 4 September 2026.

EVERY FACT WE HAVE ON Meta

Meta's most recently reported quarterly purchases of property and equipment reached $30.12 billionQ2 2026 · Source Meta, SEC EDGAR (XBRL filings)
Meta's cash capital expenditure went the other way in the first quarter of 2026 — from $21.38 billion the quarter before, a fall to $19.0 billionQ1 2026 · Source Meta 10-Q, SEC EDGAR
Meta's purchases of property and equipment nearly doubled in 2025, from $37.3bn to $69.7bn — 34.7% of its revenueFY2025 · Source Meta FY2025 Form 10-K
Meta is investing roughly $10 billion in a new AI data center in Sturgeon County, Alberta, paired with a dedicated 932-megawatt natural gas power plant to supply its planned 1-gigawatt capacity a dedicated 932-megawatt gas power plant for Meta's new AI data centerJuly 2026 · Source TrendForce
Epoch AI's Frontier Data Centers Hub tracks AI data-centre construction using satellite imagery and public filings. It estimates xAI's Colossus 2, the most powerful AI data centre operating in 2026 at 1.4 million H100-equivalents, will be dwarfed once Meta's Hyperion and Microsoft's Fairwater are complete, when the two will together reach 5 million H100-equivalent GPUs combined, once Meta's Hyperion and Microsoft's Fairwater data centres are completeNov 2025 · Source Epoch AI
Combined capital expenditure by Oracle, Microsoft, Amazon, Meta and Alphabet is projected to exceed $800 billion in 2026, surpassing the five companies' combined operating cash flow for the first time, a new NBER working paper on financing the AI buildout finds $800B 2026 hyperscaler capexOct 2026 · Source NBER (Van Nieuwerburgh)
TrendForce sees a slow shift away from merchant GPUs inside AI servers as Google, Meta and other North American cloud providers scale up in-house chips. It expects GPUs to still lead 2026 AI server shipments at 69.7%, while pegging the ASIC-based share at 27.8% in 2026, the highest since 20232026E · Source TrendForce
TrendForce's tally of the industry's biggest cloud spenders keeps climbing. Combining Google, Amazon, Meta, Microsoft, Oracle, ByteDance, Tencent, Alibaba and Baidu, it now forecasts their combined 2026 capital expenditure will exceed $886.7 billion, with the five North American hyperscalers accounting for nearly 90% of it2026E · Source TrendForce
Epoch AI's new AI Chip Users explorer estimates Meta Superintelligence Labs held about 996,000 H100-equivalent GPUs of AI computing capacity as of December 2025, putting it behind Google DeepMind and Anthropic among the frontier labs it tracks Meta's ~996,000 H100-equivalent GPUsDecember 2025 · Source Epoch AI
Vistra, the power generator that has signed long-term nuclear supply deals with Meta and Amazon for their AI data centres, said in its second-quarter 2026 earnings release that it has made an initial commitment of up to $1.0 billion to Helix Digital Infrastructure, a new AI-power venture with Nvidia and KKRQ2 2026 · Source Vistra Corp.
While Amazon, Microsoft, Meta, Alphabet and Oracle have all sharply increased AI capital spending, Apple's cash paid for property, plant and equipment in the nine months to 27 June 2026 actually fell, to Apple's nine-month capex of $6.8 billion, down 28% from $9.47 billion a year earlierNine months ended 27 Jun 2026 · Source Apple Inc. (SEC 10-Q)
Vistra signed 20-year power purchase agreements with Meta Platforms in January 2026 to supply a total of 2,609 MW of carbon-free power and capacity from its Perry, Davis-Besse and Beaver Valley nuclear plants in PJM, with full delivery of operating capacity by 2027 and uprate capacity by 2034 2,609 MW of nuclear power under 20-year Vistra-Meta PPAsJanuary 2026 · Source Vistra Corp.

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← AI EXPOSURE

Meta

EVERY FACT WE HAVE ON Meta

Meta (META): $69.69bn of capex, and no AI revenue line at all

Meta publishes no AI revenue figure. Here is what it publishes instead

Meta's sales rose 22%. Its free cash flow fell 15%

Meta spent $69,690,000,000 last year. On what, it will not say