Meta Credit Risk Hits Record High After Raising 2026 Capex Outlook to Up to $145 Billion

Meta Platforms pushed its credit risk gauge to a fresh high after announcing it would raise capital expenditure guidance to between $135 billion and $145 billion for 2026, escalating its already-massive bet on artificial intelligence. The update, which accompanied an earnings report in which CEO Mark Zuckerberg told investors the company's AI wager is delivering results, drove the company's credit risk measure to its highest level on record as bond markets weighed the sheer scale of spending required.

Tesla's credit risk also spiked in the same session, but for the opposite reason: the company pulled back its spending plans after investment last quarter trailed expectations, stoking doubt about Elon Musk's ability to transform the automaker into an AI and robotics company. The divergence between the two firms underscored a broader market anxiety around the AI trade, with stocks under pressure as major tech earnings failed to reassure investors about its sustainability.