Meta's stock has been swinging hard lately. It recently hit record highs near $780 after reporting revenue was up 28% from last year. The mood flipped when they announced their capital expenditure plans. They are guiding for up to $145 billion in spending this year, mainly on AI chips and data centers. The stock took a hit on that news because their free cash flow is basically vanishing to fund it. Wall Street is split on whether this massive AI bet will pay off. Meta has turned into a huge AI infrastructure play, so holding it probably means dealing with more volatility.