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Meta Platforms (META) has slipped below $600, down roughly 25% from its 52-week high, as the market fixates on ballooning AI capex and its payoff timeline. Q2 earnings, due Wednesday after the bell, will be the key test.
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Meta is in early-stage talks to lease up to $10 billion in computing capacity to Anthropic, a deal that would transform the social-media giant from an AI model developer into a cloud infrastructure provider for a direct competitor. Shares of Meta slipped 2.79% on the news.
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Twenty-six Meta employees are suing the company, claiming its AI-driven layoff screening system disproportionately targeted workers on medical, parental, or family leave. The lawsuit, filed in federal court, seeks to block the terminations set for July 22.
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Meta faces a dual assault: a class-action lawsuit from employees alleging its AI system unfairly targeted them for layoffs, and a revolt from advertisers over AI ad tools generating bizarre, brand-damaging content. The stock edged up 0.33% to $658.92 as the market digested the news.
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Meta shares surged roughly 15% last week, their best weekly performance since early 2024, fueled by a flurry of new AI models and news that its in-house "Iris" chip will enter production in September.
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Four state attorneys general are seeking up to $1.4 trillion in penalties from Meta in a teen social-media addiction case, a sum that nearly matches the company’s entire market value. The lawsuit, joined by 33 states, alleges Meta deliberately designed its platforms to be addictive to…
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Nvidia and Meta lagged the AI pack in the first half of 2026, but analysts argue both are poised for a rebound. Nvidia’s valuation is at a steep discount, while Meta’s revenue growth is the strongest outside of AI chipmakers.
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A coalition of US states is seeking up to $1.4 trillion in civil penalties from Meta over youth safety claims, with a trial set for August. The company is also under regulatory fire in India over child abuse ads on Instagram.
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Meta is reportedly in final negotiations with Anthropic for a private cloud instance deal that could be worth roughly $10 billion, while Anthropic also explores a custom chip partnership with Samsung. META shares dropped nearly 5% in after-hours trading.
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Meta is reportedly building a cloud business to sell excess AI compute capacity and model access, directly challenging AWS, Azure, and Google Cloud. Shares spiked nearly 10% in Wednesday trading as the plan eases investor fears over the company’s massive AI capex.