Meta Platforms’ future commitments reached $825 billion, including $349.3 billion in non-cancelable contracts and $279 billion in signed leases that have not yet begun, as of the second quarter of 2026. These commitments come on top of a capital expenditure plan of $135 billion to $145 billion for 2026, compared with $72 billion spent in 2025. In the third quarter of 2026, Meta generated $64.6 billion in revenue, up 26% year over year, while its free cash flow had fallen 91% year over year in the second quarter. To help finance this expansion, the company plans to issue a new class of non-voting shares. Meta is shifting investments from the metaverse toward artificial intelligence, with the stated goal of developing what it calls “superintelligence.”
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