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Barchart
Barchart
Anushka Mukherji

Meta Platforms Announces an Increase in Capital Expenditures. 1 Data Center Stock to Buy Now.

Meta Applied Digital APLD

The artificial intelligence (AI) boom is here to stay, with tech giants showing no signs of slowing down their investments in AI and the data center infrastructure needed to power it. Meta Platforms (META) is proof of that. The company turned heads on April 30 with a strong earnings beat and a bold move to boost its capital expenditure forecast to as high as $72 billion. 

The social media giant unveiled a capex forecast ranging from $64 billion to $72 billion for the year, a significant leap from its previous projection of $60 billion to $65 billion. A hefty slice of this spending will be directed toward data centers powering Meta’s AI ambitions.

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