Meta is ramping its West Texas AI data center project from $1.5 billion to $10 billion. The El Paso facility is part of a broader $600 billion commitment to US infrastructure through 2028, with AI data centers eating most of that. The company's total 2026 capex guidance sits between $115 billion and $135 billion, nearly double the $72.2 billion spent in 2025. For context, Meta, Amazon, Google and Microsoft together are pouring close to $700 billion into AI infrastructure this year alone.
The largest single-year capital spending surge in tech history. META closed at $572.13 on Monday, up 6.67% on the day. Investors seem to like the "spend everything on AI" story. For now.