Capital expenditure is now up to $31.1 billion in the quarter, nearly double the amount spent a year earlier. Operating cash flow came to $31.9 billion; in other words, the company spent almost every dollar its businesses could generate on AI infrastructure: servers, data centers, network infrastructure, and chips. Meta issued $24.9 billion of long-term debt during the quarter and bought back no stock, after repurchasing more than $10 billion a year earlier. Meta now expects full-year capital expenditures of $130 billion to $145 billion, having raised the floor. That leaves $39 billion to $47 billion a quarter for the rest of the year, against operating cash flow of roughly $32 billion.