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S&P cuts Meta's credit outlook to negative over AI capex and negative free cash flow

S&P Global Ratings revised Meta's outlook from stable to negative on Oct. 30 and left the AA- rating unchanged, citing elevated capex and its first negative quarterly free cash flow (-$2.12B in Q3). Meta guides 2026 capex to $135B to $145B. Meta says it respectfully disagrees and calls its credit profile very strong, per CNBC.

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Made the five · #4 on Saturday, October 31, 2026

OpenAI cuts its raise to $20B as AI stocks slide

Primary source

CNBCcnbc.com/2026/10/30/meta-outlook-to-revised-to-negative-by-sp-after-cash-flow-negative.html

Coverage · 7 articles, oldest first

Friday, October 30, 2026

  1. Bloomberg

    Meta’s Rating Outlook Cut to Negative by S&P on Spending Surge

  2. The Information

    S&P Lowers Meta’s Credit Outlook Amid Soaring AI Spending

Saturday, October 31, 2026

  1. CNBC

    S&P downgraded Meta's outlook from stable to negative, citing high capex and negative free cash flow; META fell 15% in October, its worst month in four years

  2. Finimize

    finimize.com/content/sp-turns-more-cautious-on-metas-ai-spending-plans

  3. Reuters

    investing.com/news/stock-market-news/sp-global-cuts-meta-outlook-to-negative-amid-capex-concerns-4988733

  4. Channel NewsAsia

    channelnewsasia.com/business/sp-global-revises-metas-outlook-negative-ai-spending-cash-flow-worries-6508631

  5. Crypto Briefing

    cryptobriefing.com/sp-revises-meta-outlook-negative/
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