Meta's free cash flow dropped almost $8 billion in a year due to AI.

Meta faces investor skepticism ahead of Q2 2026 earnings as its $125B-$145B AI capex plan raises concerns about free cash flow and return

Meta’s revenue rose 28% to $60.8bn, but profit fell 14% and free cash flow collapsed 91% to $784m as its AI build-out costs climbed. The stock dropped.