Meta Shares Slide 6% on Spending Commitments -- WSJ
Dow Jones2026/10/22 15:36By Meghan Bobrowsky
Meta Platforms' stock dropped more than 6% on Thursday morning after the company disclosed additional billions of dollars in future spending commitments.
In a filing Thursday, Meta said it had signed on to future leases and noncancelable contracts that totaled roughly $825 billion to support its artificial-intelligence buildout, up from nearly $700 billion in commitments in July.
On Wednesday, as part of its third-quarter earnings report, the company announced the creation of a new class of non-voting stock to fund its AI ambitions and to keep Chief Executive Mark Zuckerberg from moving out of state.
In an extraordinary public filing, Meta detailed the steps the company took to prevent the CEO from leaving California after he said he was spooked by a potential wealth tax on the November ballot.
At one point, Zuckerberg threatened to list his Palo Alto home for sale publicly within four days. A deal was reached shortly thereafter to allow him to sell 20% of the new stock immediately to be able to pay the wealth tax, if needed.
On the call with analysts and investors Wednesday, Meta executives didn't reveal how much money they were planning for capital spending in 2027 but said they "expect to continue investing aggressively."
This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).
(END) Dow Jones Newswires
October 22, 2026 11:36 ET (15:36 GMT)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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