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In Q2 2026, Meta posted $60.8 billion in revenue, up 28% year-on-year, but free cash flow collapsed 91% to $784 million as Zuckerberg committed up to $145 billion in AI capital expenditures for the year. Simultaneously, the company launched Muse Spark 1.1, its first commercial AI model, priced at roughly a quarter of what OpenAI and Anthropic charge.
