Meta Platforms forecast $135 billion to $145 billion in 2026 capital expenditures as Advanced Micro Devices (AMD) said Meta is testing Helios systems, tying an AI hardware milestone to its investment plans.
AMD said Meta is running tests on Helios racks installed at its facilities. The company expects wider use in the near future but gave no rollout date or system count.
The testing follows a February agreement for up to six gigawatts of AMD Instinct GPUs. AMD’s outlook for that deal put shipments tied to the first gigawatt in the second half of 2026 and specified a custom GPU based on its MI450 architecture.
AMD said Meta has deployed EPYC processors across multiple generations, providing computing capacity for its Muse personal AI agent. AMD also said Meta uses Instinct GPUs in production for training, ranking and recommendation tasks, and plans a custom Instinct GPU tailored to its workloads. AMD said its Instinct GPUs support Muse Spark Open from launch, while its Ryzen AI PCs and Radeon GPUs support Muse Glimmer.
AMD separately said it would invest $1 billion in Meta’s equity offering. Meta’s Monday, Oct. 26, filing with the Securities and Exchange Commission lists NVIDIA, AMD and Broadcom as having indicated nonbinding interest in buying up to $5 billion of Class A common stock combined. The filing assigns no individual amount to AMD and does not confirm a purchase.
Meta’s filing details concurrent offerings totaling about $35 billion: $22.5 billion in Class A common stock and about $12.5 billion in depositary shares representing Series A Mandatory Convertible Preferred Stock. It also outlines a possible $60 billion at-the-market program for Class C common stock. Meta has not signed an agreement for the program and has yet to set its timing, size or terms.
The filing says Meta plans to fund investment through operating cash flow, debt, strategic partnerships and equity. It warns that future share issuance could dilute common shareholders. AMD is scheduled to report fiscal third-quarter results after market close Tuesday, Nov. 3, with a conference call at 5 p.m. ET.
