Meta shares slide nearly 28% from 52-week high as $145 billion AI capex faces scrutiny

Meta shares are down nearly 28% from their 52-week high, with investors questioning whether the company’s AI strategy can translate heavy spending into returns. While revenue rose 33% year over year in Q1 2026, the plan to spend up to $145 billion on AI-focused capital expenditures lacks a clear monetization path. The company is also facing mounting regulatory and legal pressure, including youth social-media restrictions in multiple countries and a U.S. jury finding Meta’s platform negligent in protecting children. Adding to the uncertainty, a key AI executive has departed and risks around potential changes to Section 230 remain on the radar.