Is Meta right to raise its AI spending to at least $135 billion this year?
On October 21, Mark Zuckerberg's Meta raised the floor of its 2026 capital-expenditure range to $135 billion and created a new nonvoting Class C stock class to help fund its AI buildout.
Their current walled garden advertising business is basically a zombie at this point. Their attempt to replace it with the, "Metaverse", has failed. What else are they going to do?
I think it's probably warranted. What they're doing with Muse makes sense - bringing AI to the masses by helping across our everyday lives. That said, I don't really trust Meta enough to give it access to everything that would make Muse helpful. Apple, on the other hand... It was theirs to lose.