Meta Platforms Inc. raised its full-year capital expenditure forecast to $125
billion–$145 billion, up from $115 billion–$135 billion and above analyst
expectations. The company said the increase reflects continued investment in
artificial intelligence infrastructure, including large-scale data centers and
chip deals with Nvidia Corp., Advanced Micro Devices Inc., and Broadcom Inc.
First-quarter net income was $26.8 billion, including an $8 billion one-time tax
benefit related to US tax policy changes. Shares fell 4.4% in after-hours
trading despite the stronger spending outlook.
