New York, March 1, 2026, 10:37 AM EST — The market is closed.
- Meta shares dropped 1.3% by Friday’s close, then slid even lower in after-hours trading
- Meta has reportedly inked a multi-year agreement worth billions to lease AI chips from Google.
- Fresh U.S. data is on the radar for traders this week, along with a Meta conference appearance they’re eyeing.
Meta Platforms, Inc. (META.O) wrapped up Friday’s session at $648.18, a drop of 1.34%. After the bell, shares edged a bit lower, last changing hands at $645.12.
Investors are reacting to a Reuters report that Meta struck a multi-year, multi-billion-dollar agreement to lease AI chips from Alphabet’s Google (GOOGL.O), The Information says. Both Meta and Google weren’t commenting when asked about the deal.
The timing isn’t trivial. Wall Street’s nerves are showing over the pace of AI spending—traders can’t decide if it will pad the bottom line or just bloat budgets—right as traders see less chance for speedy U.S. rate cuts. “To wrap up the month of February, we were reminded there are still some cracks out there,” said Ryan Detrick, chief market strategist at Carson Group. Reuters
Friday’s session offered little relief. Tech and chip stocks took a hit, with traders uneasy about lofty valuations and what AI’s “disruptive force” might bring. Over in commodities, oil found support from Middle East tensions. “…it’s time for a breather,” said Talley Leger, chief market strategist at The Wealth Consulting Group, referring to semiconductors. Reuters
Meta isn’t sweating over individual suppliers right now. What’s pressing is the speed at which it secures enough computing muscle for its next models—an early read on just how big the expansion could get.
Meta flagged a jump in infrastructure outlays for this year, guiding investors toward capital expenditures and finance-lease principal payments somewhere between $115 billion and $135 billion.
The road’s bumpy. Larger infrastructure bills tighten up cash flow, especially if ad demand loses steam. And when rate expectations move, “growth” stocks often take the hit.
Competitive pressure isn’t easing. Google remains a top threat in digital advertising and is fast becoming a go-to provider of AI infrastructure. Nvidia (NVDA.O) and AMD (AMD.O), meanwhile, are right in the thick of the rush for chips needed to train AI and handle inference—those real-time model runs.
Eyes are on the middle of the week for Meta: CFO Susan Li is set to speak at Morgan Stanley’s Technology, Media & Telecom Conference on March 4, the company confirmed.
Macro headlines could take the reins early. The February U.S. Employment Situation report hits this Friday, March 6, a data drop with the power to jolt rate expectations—and by extension, high-flying tech stocks.
Traders are watching out for the Fed’s March 17–18 policy meeting coming up later in the month. The Beige Book lands on March 4.
