Analysis: Meta could self-fund $220B in 2027 CapEx without external financing
RihardJarc · x · 2026-10-23
Investor Rihard Jarc estimates Meta could fund up to $220B of CapEx in 2027 without external financing: $133B LTM operating cash flow growing to $140-150B next year, plus $10B from cutting the $15-20B/year Reality Labs spend, plus $80B cash on hand with only $2.75B of maturing debt.
Repeating April 2026's $25B bond issuance would push the ceiling to $245B — meaning Meta would buy more compute than any frontier lab in 2027. His take: if Meta wants to floor the accelerator, it should clean house (especially Reality Labs) before diluting shareholders at current valuations.
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