Meta shares fall 4% as Goldman Sachs questions AI spending returns

Meta stock dropped about 4% after Goldman Sachs questioned whether AI infrastructure spending can pay off, estimating hyperscalers may need roughly $1 trillion in annual revenue for strong profits. Zuckerberg's paper wealth fell nearly $9 billion to about $257.5 billion.

• Meta shares fell 4% after a 36% September rally
• Goldman Sachs: hyperscalers may need up to $1 trillion in annual revenue
• Meta's 2026 capex guidance is $130–145 billion vs ~$31.1 billion in Q2
• Advantage+ runs at about $75 billion annualized revenue