BofA cited an internal memo showing Meta plans ~6.5 GW AI compute in 2026 (≈5.5 GW H2), with 2026 capex ~ $22B per GW and an in-house chip project called Iris. Meta must unwind its ~$2B Manus AI deal after Chinese regulators' order, and Tencent is negotiating to buy Manus, potentially valuing it at ≥$2B and becoming the largest shareholder. Meta deployed Muse Spark 1.1 and plans to expand compute capacity, prompting trader interest in potential third‑party compute sales and lower overall compute costs. HSBC flagged Meta Platforms as a top earnings-season pick ahead of Q2 results, citing company-specific growth drivers. Meta removed its Muse Image AI that generated images from public Instagram content, acknowledging it “missed the mark” on user control after criticism and privacy concerns. Meta is listed as a customer of Mercor, using Mercor’s services for AI training data generation, labeling and review. Meta is building business agents and testing stablecoin payments to enable agent-driven commerce, per Chief Data Officer Alex Schultz.