Meta Platforms CEO Mark Zuckerberg admitted that the company's AI bets "haven't come to fruition yet" during an internal town hall on July 2, as reported by Reuters. Meta's capital expenditures in 2026 will total between $125 billion and $145 billion, with the midpoint estimate 88% higher than last year's figure. The social media stock dipped 5% that day, though it is up 19% in the month of July as of July 10. Earlier this year, Meta laid off 8,000 employees, translating to 10% of its workforce, and moved 7,000 people into different AI roles. Zuckerberg said notable progress should be made in the coming months. The company's Reality Labs segment posted a cumulative operating loss of $77 billion during the five-year period from the start of 2021 through 2025. Meta has 3.56 billion daily active users across its family of apps.