Meta’s AI Capex May Be Turning Into a Revenue Engine

Anthropic is reportedly in talks to lease $10 billion worth of AI compute from $META over two years, with monthly payments and early-exit options for both sides.
This matters because $META previously guided 2026 capital spending to $125–145 billion , nearly double its 2025 level. At the time, investors largely viewed that spending as a major capex overhang.
A deal like this changes the narrative.
$META would not simply be spending heavily on GPUs and data centers for internal use. It would also be monetizing that infrastructure by renting capacity to third parties.
A potential $10 billion contract from a single customer would provide meaningful revenue against those investments.
$META shares are up 21% this month , adding roughly $270 billion in market value .
The key takeaway: capex backed by contracted third-party revenue looks very different from capex that only burns cash.