On July 30, according to CCTV Finance, after the U.S. stock market closed on the 29th local time, Meta disclosed its second-quarter earnings report for 2026. Although quarterly revenue slightly exceeded expectations, net profit fell by 14%, and the massive AI capital expenditure squeezed cash flow, causing the company's stock price to drop over 8% in after-hours trading. In the earnings report, Meta adjusted its full-year capital expenditure forecast range to $130 billion to $145 billion, compared to the previous forecast of $125 billion to $145 billion. The sharp increase in AI capital expenditure has hurt the company's profitability and severely squeezed cash flow. Meta's free cash flow in the second quarter fell to its lowest level in nearly four years, reaching only $784 million. Facing market concerns, Meta CEO Zuckerberg stated in the earnings conference call on the 29th that the company's current massive investment is aimed at seizing the AI infrastructure window, and the returns will gradually materialize through multiple paths, including improvements in the core advertising business, enterprise services, and computing power leasing. When mentioning the possibility of "selling computing power," Zuckerberg said that Meta has received a large number of quotes for computing power, with prices far exceeding the company's procurement costs. However, Zuckerberg stated that merely selling computing power to obtain short-term profits is foolish, and a "significant portion" of Meta's computing power will be used to drive its own models and products.