Meta Platforms (META) shares experienced significant pressure, dropping approximately 4.9% on July 3rd following analyst warnings that the company's 2027 capital expenditures for AI infrastructure could surge to $200 billion, exceeding prior estimates.
These concerns overshadowed earlier market enthusiasm generated by reports on July 1st and 2nd about Meta's plans to monetize its excess AI computing capacity through a new cloud business.
During the prior session, the NASDAQ-100 fell by approximately 1.5% to 2% on July 2nd, contrary to the original news's claim of a rise.