Meta Platforms spent $0 on stock buybacks in Q2 2026, borrowed $24.91 billion, and ramped AI capex to $31.1 billion as free cash flow plunged

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 stock is limping into the Facebook parent company's Q2 earnings report. Wall Street will be focused on Zuckerberg's AI plan.