Meta sees FY25 capex $60B-$65B

The company said, “We expect full year 2025 total expenses to be in the range of $114-119 billion. We expect the single largest driver of expense growth in 2025 to be infrastructure costs, driven by higher operating expenses and depreciation. We expect employee compensation to be the second-largest factor as we add technical talent in the priority areas of infrastructure, monetization, Reality Labs, generative artificial intelligence (AI), as well as regulation and compliance. We anticipate our full year 2025 capital expenditures will be in the range of $60-65 billion. We expect capital expenditures growth in 2025 will be driven by increased investment to support both our generative AI efforts and core business. The majority of our capital expenditures in 2025 will continue to be directed to our core business. Absent any changes to our tax landscape, we expect our full year 2025 tax rate to be in the range of 12-15%. In addition, we continue to monitor an active regulatory landscape, including legal and regulatory headwinds in the EU and the U.S. that could significantly impact our business and our financial results.”