Meta narrows annual capex forecast as AI buildout grows

July 29 : Meta Platforms narrowed the range of its forecast for annual capital expenditure on Wednesday, as the social media giant doubles down on building a fleet of data centers to expand its AI computing powerShares of the company fell about 5 per cent in extended trading.The Facebook parent now expects 2026 capital expenditure to be between $130 billion and $145 billion, compared with its prior forecast of $125 billion to $145 billion.The company also raised the lower-end of its expense outlook to incorporate the $2.4 billion charges related to legal proceedings recognized in the second quarter. Meta said it now expects full-year 2026 total expenses to be in the range of $165 billion to $169 billion, compared with its prior forecast of $162 billion to $169 billion.At the heart of Meta