Meta shares plunge nearly 7%, capex growth concerns overshadow agent hype

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Meta stock plunges nearly 7%: capital expenditure growth shadow overshadows agent enthusiasm

2026-10-23 15:38:52 Source: Caixin.com Author: Du Zhihang Editor-in-Charge: Qu Yunxu

Text | Caixin Du Zhihang

October 23, 2026 15:38

Local time October 19, 2026, California, USA, Meta company. Image: Visual China

[Caixin.com] Meta stock fell back to early September levels. US time October 22, US social media company Meta (NASDAQ: META) stock opened sharply lower; as of that day's close, Meta stock fell 6.98% to $648.85/share, close to this year's early level of $650.41/share, and the gains brought by the Muse agent were all given back.

Meta released its financial report after market close on October 21, and Meta's after-hours stock price rose at one point, but after the open on October 22, Meta stock plunged.

The market worries that Meta's investment in AI will continue to climb, triggering a bubble. In a report submitted to the US Securities and Exchange Commission on October 22, Meta said that as of September 30, 2026, Meta's total irrevocable contractual commitments were $454.52 billion, mainly involving third-party cloud computing capacity arrangements, server and network infrastructure investment, data center energy service agreements, and consumer hardware products of the virtual reality business Reality Labs. Of this, about $45.85 billion and $121.41 billion will mature in 2026 and 2027, respectively.

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