S&P Global Ratings revised Meta’s outlook to negative, citing uncertainty around its elevated capital expenditure and negative free cash flow. The company retains its AA- credit rating, but the outlook changed from stable to negative. Meta expects full-year capital expenditure of $135 billion to $145 billion and reported negative free cash flow of $2.12 billion. After its quarterly results, Meta shares fell 7% and lost 15% in October, their worst month in four years. The company also plans to raise $95 billion to finance its artificial intelligence initiatives.
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