Mark Zuckerberg · China · Meta · Russia · U.S. · Germany · Fortune Technology
Meta plans to spend $145 billion this year, more than every military budget except the U.S., China and Russia
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The AI boom is less a marathon of innovation and more a spending sprint as companies pour billions to maintain their spot in the AI race.
Key facts
- Meta’s recorded capex was $28.1 billion in 2023, compared to $39.23 billion in 2024 and $72.22 billion in 2025—according to SEC filings
- Additionally, Meta spent $27.05 billion on property and equipment in 2023, $37.26 billion in 2024 and $69.69 billion in 2025
- Meta plans to spend up to $145 billion in capital expenditure in 2026, a roughly 101% jump from the $72.2 billion it spent one year earlier
- The $145 billion capex puts Meta above every country’s military budget from 2025, save for the United States, China and Russia
Summary
Meta plans to spend up to $145 billion in capital expenditure in 2026, a roughly 101% jump from the $72.2 billion it spent one year earlier. “As AI usage in our products and businesses continues to ramp, we continue to invest aggressively in infrastructure to meet the demand,” Zuckerberg said in Meta’s Q2 2026 earnings call. Zuckerberg described 2026 as a pivotal year for Meta’s effort to build what he calls a “superintelligence.” “The opportunity in front of us is massive,” he said.