● META POSTS FIRST NEGATIVE CASH FLOW IN DECADE

Meta posted negative free cash flow for the first time in over a decade, coming in at -$2.12 billion in the third quarter as capital expenditures outpaced operating cash. The company also raised the floor of its 2026 capital expenditure guidance to $135 billion, up from $130 billion previously, as it keeps funding AI data centers and chips. $META is burning cash today to defend tomorrow's AI position.