GoKawiilS&P shifts Meta's credit outlook to negative amid rising AI capex
S&P Global Ratings lowered Meta Platforms' outlook from stable to negative while keeping its AA- credit rating, citing concerns about heavy capital expenditure and negative free cash flow. Meta posted negative free cash flow of $2.12 billion in the third quarter and projected full-year capex of $135 billion to $145 billion. The company's shares fell 7% after earnings and dropped 15% for October, its worst month in four years.