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Meta Platforms reported Q2 2026 financial results, exceeding market expectations with total revenue of $42.8 billion, a 22% year--over--year increase. The growth was primarily driven by AI--enhanced ad targeting and increased engagement on Reels. However, management raised the 2026 capital expenditure forecast to $40--$45 billion to accelerate the build--out of its "Personal Superintelligence" data centers, signaling continued heavy investment in AI infrastructure.