CEO of Meta Platforms Mark Zuckerberg attends a press briefing held by U.S. President Donald Trump with AI executives following a meeting on artificial intelligence, outside the West Wing of the White House on September 29, 2026 in Washington, DC.
Finn Gomez | Getty Images
Meta has been assigned a negative outlook by S&P Global Ratings on concerns surrounding cash flow and AI spending.
The credit agency said Friday that the outlook reflects “uncertainty” surrounding Meta’s elevated capex and its negative free cash flow.
Meta said in its third-quarter earnings report last week that it expects full-year capex to come in the range of $135 billion to $145 billion. The company also posted negative free cash flow of $2.12 billion, going in the red for the first time.
Investors sent Meta shares sinking 7% following last week’s earnings report despite though the company beating on revenue. The stock finished October down 15%, its worst month in four years.
Meta didn’t immediately respond to a request for comment.
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