Meta Platforms forecast third-quarter revenue of $61 billion to $64 billion, below some Wall Street expectations, sending shares down more than 6% in extended US trading despite strong advertising growth. The company slightly raised the lower end of its projected 2026 spending range for artificial intelligence infrastructure to $130 billion, keeping the upper end at $145 billion, after spending just over $72 billion on capital expenditures in 2025. Chief executive Mark Zuckerberg has invested heavily to expand Meta’s AI capabilities, competing with OpenAI, Alphabet’s Google and Elon Musk’s xAI, and has said he is willing to spend tens of billions of dollars even if it results in excess data centre capacity. Second-quarter revenue rose 28% from a year earlier to $60.8 billion, while net profit fell 14% year-on-year to about $15.85 billion. The company said at least 3.6 billion people used one of its apps daily during the quarter, up from 3.56 billion three months earlier. Meta also owns WhatsApp, Instagram and Threads.