Meta’s revenue jumps, but AI costs (and a $15.93B tax hit) spook investors

Summary

Meta ($META) posted record Q3 2025 revenue (up 26% Y/Y) but flagged even higher AI spending lifting 2025 capex to $70–$72B and signaling “significantly higher” in 2026. A one-time, non-cash $15.93B U.S. tax charge also hammered reported profit, knocking the stock after hours.

Winners -

AI chips & accelerated compute

Reason: Meta’s bigger 2025–2026 AI buildout implies sustained demand for GPUs/accelerators and AI servers.

$NVDA (NVIDIA)

$AMD (Advanced Micro Devices)

$SMCI (Super Micro Computer)

Colocation & data-center REITs

Reason: AI training/inference needs more racks, power and interconnects benefiting neutral colo providers.

$EQIX (Equinix)

$DLR (Digit ...