Facebook parent, Meta Platforms, has raised its annual capital spending forecast for 2026 to $145 billion, raising it to $115 billion to $135 billion, despite warning that legal and regulatory backlash could impact its business and financial results. The company is also facing rising number of teen social media bans globally and thousands of court cases by individuals, municipalities, states, and school districts alleging it designed its platforms to be addictive and harmful to children. Shares of Meta fell more than 6% in extended trading following the announcement. Despite first-quarter revenue of $56.31 billion, Meta's growth engine for its AI infrastructure has helped support its investments in AI infrastructure. However, the company's performance was overshadowed by faster growth by other tech companies.