META shares fell more than 6% in early trading, wiping out $100 billion in market capitalization.
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Meta shares fell over 6% in early trading, wiping out $100 billion in market capitalization. Meta disclosed that its future spending commitments as of the end of September totaled approximately $825 billion, a significant jump from $700 billion in July, encompassing $355.7 billion in data center leases and $454.5 billion in cloud computing power contracts. On Thursday, the price of Meta's five-year CDS rose to approximately 119.3 basis points, a record high since its listing, weakening the bond relative to U.S. Treasuries. Oracle, Microsoft, and Broadcom CDS also rose, reflecting growing market caution regarding debt risks in the technology sector. (Source: BIT (bit.com))