Benchmark Reiterates Hold on Meta
Benchmark analyst Mark Zgutowicz reiterated a Hold rating on Meta Platforms Inc. (NASDAQ: META).
“Reuters reported the contents of a leaked internal Meta memo on July 9 detailing plans to deploy 7 GW of computing infrastructure in 2026 and double overall capacity to 14 GW in 2027, with 2026 spending running as high as $145B, the top end of the April guide of $125–145B and up from the January $115–135B range.
The memo further disclosed multi-year supply lock-ins with Samsung (memory), Sandisk (flash storage), and Sumitomo Electric (fiber optics) —struck in the middle of a memory shortage severe enough to be lifting consumer hardware prices— plus renewed disclosure of the previously announced AMD multi-year agreement covering up to 6 GW of Instinct accelerators.
The same memo confirmed that Meta’s in-house Iris AI accelerator enters production at TSMC in September 2026 after clearing bug validation in six weeks with no major issues, an unusually clean tape-out result for an MTIA (Meta Training & Inference Accelerator) program that has stumbled repeatedly since inception.”
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