The "Magnificent Seven" plan to spend more than $700 billion on artificial intelligence capital expenditures this year, a big step up from the $400 billion or so the group spent in 2025. Investors are worried that hyperscalers may overbuild AI infrastructure. Meta Platforms CEO Mark Zuckerberg may have given a hint about those concerns after Meta announced it is launching a new cloud business that will lease its excess compute capacity to external customers. Meta has guided for capital expenditures of $125 billion to $145 billion this year, most of which will cover "additional data center costs to support future-year capacity." In the third quarter of 2025, Zuckerberg implied his company wouldn't become a supplier of compute unless it overbuilt AI infrastructure, stating that if the company overbuilt, it could offer compute to external customers. Even after the rally on the cloud announcement, the stock was still down about 9.5% year to date as of July 6.