Strong ad growth and record profits lift shares as Meta signals up to $135 billion in 2026 capital spending. Meta shares jumped 10% in post-market trading on Wednesday after the company reported stronger-than-expected fourth-quarter earnings and outlined plans to sharply increase spending on artificial intelligence infrastructure. Chief Financial Officer Susan Li said the increase would be driven by investments supporting Meta Superintelligence Labs and the company’s core advertising business. Despite the jump in spending, Meta expects operating income in 2026 to exceed 2025 levels. The company forecast first-quarter 2026 revenue of $53.5 billion to $56.5 billion, with infrastructure costs and technical hiring as the main drivers of expense growth.