Meta Platforms Inc. (NASDAQ:META) stock saw intraday volatility and early selling pressure before turning higher on Friday. The downward movement follows a leaked internal memo detailing massive multi-year capital spending commitments for artificial intelligence (AI) infrastructure.
Nasdaq futures are down 0.19% while S&P 500 futures have gained 0.04%.
Leaked Memo Reveals Massive Hardware Deals
According to an internal company documentation reviewed by Reuters, Meta is locking in massive hardware deals. The leaked documents indicate the company is purchasing NAND flash memory from Sandisk Corp., DRAM from Samsung Electronics Co., Ltd. and fiber optics from Sumitomo Electric Industries Ltd.
These infrastructure commitments align with Meta’s expanding physical footprint, which recently included breaking ground on a 1 gigawatt, AI-optimized data center in Sturgeon County, Alberta—representing a 13 billion Canadian dollar investment.
