Meta's $825 Billion AI Commitment Tests Investor Patience as Tech Peers Show Stronger Returns

Meta has committed to spending $825 billion on artificial intelligence infrastructure over coming years, triggering fresh investor concerns about whether the social media giant can generate meaningful returns from an investment that dwarfs its troubled metaverse spending. The figure—comprising $355.73 billion in future leases and $454.52 billion in non-cancelable contracts—was disclosed in Meta's quarterly filing in late October 2026 and reflects a jump from approximately $700 billion reported in July. The company separately guided to $135 billion to $145 billion in capital expenditure for 2026, nearly double its $72 billion spend in 2025.