Meta Platforms raised its annual capital spending forecast on Wednesday, plowing billions more into artificial intelligence infrastructure even as it grapples with possible losses from a global youth social media backlash .

The Facebook parent projects 2026 capital expenditure between $125 billion and $145 billion, compared with its prior forecast of $115 billion to $135 billion.

Shares of the company fell more than 6% in extended trading.

Mark Zuckerberg’s Meta Platforms raised its annual capital spending forecast even as it grapples with possible losses from a global youth social media backlash.…