● META CAPEX JUMPS 80% AS MARGIN HALVES

Meta's third-quarter 2026 revenue rose 26% year-over-year to $64.6 billion, beating Wall Street estimates, according to the company's SEC filing. But capital expenditures surged 80% from a year earlier to $33.9 billion, and operating margin fell to 20% from 40% in the same quarter of 2025. The AI infrastructure race is eating into profitability even as $META's top line keeps growing.