Meta and AMD bet big on AI as tech spending surges in 2026

Major tech firms are ramping up investments in AI and data centre infrastructure. Meta Platforms has announced plans to nearly double its capital spending by 2026, while AMD reports strong revenue growth driven by AI demand. Meanwhile, American Tower Corporation faces a decline despite its lower valuation compared to sector peers. Meta Platforms is preparing for a significant expansion in AI infrastructure. The company now expects capital expenditure of between $115 billion and $135 billion in 2026, almost twice the $72.2 billion spent in 2025. A key part of this investment includes a $10 billion expansion of its El Paso data centre, which aims to reach one gigawatt of capacity by 2028. The focus remains on large-scale AI systems, custom-built data centres, and dedicated power supply.

AMD has also seen strong performance, with record Q4 2025 revenue of $10.3 billion and full-year 2025 revenue hitting $34.6 billion. The company forecasts Q1 2026 revenue of about $9.8 billion, marking a 32% year-over-year increase. Investor confidence in AMD has surged, with shares up 88.67% over the past 52 weeks. This growth follows new partnerships, including a multi-year deal with Nutanix, backed by a $250 million commitment to support AI workloads. Additionally, AMD has teamed up with Celestica to launch the 'Helios' rack-scale AI platform in late 2026.

In contrast, American Tower Corporation has struggled, with its stock falling 20.8% over the past year and another 3.45% since the start of 2026. Despite trading at a forward P/E ratio of 15.78—well below the sector average of 30.54—the company has yet to see a recovery. Meta's aggressive spending signals a push toward AI-driven infrastructure, while AMD's revenue growth reflects rising demand for data centre solutions. American Tower, however, continues to lag despite its lower valuation. These developments highlight shifting priorities in the tech sector, with AI and high-performance computing taking centre stage.