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taishiro
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Watch whether CapEx guidance stabilizes or keeps marching higher, whether Meta can clearly quantify incremental revenue and margin from AI beyond vague claims of better engagement, and how the Class C issuance is actually used and at what dilution cost.
This is not anti-AI. It is pro-capital discipline. The companies that win the next decade will be the ones that treat compute as a scarce, expensive input with measurable payback periods, not an unlimited option funded by hope and share issuance
