I=6
Semianalysis projects that Meta’s capex will be “shockingly high” in 2027
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It pointed out that in Meta has contracted over 5GW of capacity in just the first six months of 2026.
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Drivers of capex include Meta Superintelligence Labs compute needs, assumption that Meta can scale up Ads recommendation systems by over 10x to drive revenue growth, their believe that Meta is in final talks with Anthropic to get access to private instances of Claude in a deal valued at over $10 billion, and expectation that Meta will strike a few “SpaceX-type” deals.
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Semianalysis pointed out that allocating just 200MW of compute to an external customer drives $10B/yr of revenue, at sky-high margin.
