S&P Warns Meta as AI Spending Heads Past $225 Billion

Meta could burn through about $132 billion in free cash flow over three years, and one rating agency just said it no longer believes the spending will slow down. S&P Global Warns Meta Over Its AI Spending, November 1, 2026 S&P Global moved its outlook on Meta from stable to negative, warning that AI capital spending could top $225 billion next year, push free cash flow deeply negative, and lift lease driven leverage past its downgrade threshold by 2027. Rick Spair and Laura unpack t...