META is trading 2.1% down now at $599.82 after a sharp 8.8% jump on July 1, 2026, as investors reassess Meta’s aggressive AI spending plans and new cloud ambitions. The stock has been under pressure for months on concerns about $125–145B 2026 capex, potential equity issuance, and now its ‘Meta Compute’ AI cloud move, which is feeding broader worries about overinvestment in AI infrastructure and shifting business risk.