As Meta invests heavily in artificial intelligence, its stock price approaches the $690 mark, prompting speculation about the potential impact on its valuation.

Table of Contents Meta shares approached $690 during July before retreating, while the company maintained its large 2026 artificial intelligence spending plan. Meta stock now faces a market test between renewed price momentum and rising infrastructure costs. The latest figures show continued AI expansion, despite a circulating headline suggesting Meta could abandon a $174 billion commitment. Meta stock reached an intraday high of $686.08 on July 15, placing the shares within four dollars of $690. However, the price closed at $646.01 on July 17 after falling 2.79% during that session. The pullback followed a rapid advance from lower July levels and showed resistance below the round-number threshold. The shares remained above their 50-day average after the retreat, while trading near their longer-term 200-day measure. That position leaves Meta stock above the widely followed $600 area, which previously supported the recovery. A sustained move below that level would weaken the recent structure, while $690 remains the immediate barrier. $META Got to as high as $689-690 before pulling back down to the 200dma. Now it just needs to find a way to steady the ship here (no cracking below $600 anymore) and try to gun for $700+. Until then… https://t.co/JbmKncWx8S — Heisenberg (@Mr_Derivatives) July 20, 2026 The next major price marker stands at $700, but the shares must first clear recent selling near $690. Meta stock also carries a 52-week range between $520.26 and $796.25, according to July 17 market data. Those figures place the latest rally below its annual peak and above the lower end of that range. Meta expects 2026 capital expenditures between $115 billion and $135 billion, including principal payments on finance leases. The company recorded $72.22 billion of comparable spending during 2025, according to its full-year results. Therefore, Meta stock remains tied to a spending plan that could rise by at least 59% annually. Meta said higher investment would support its Superintelligence Labs operations and core business. The company also expects infrastructure costs, cloud services, depreciation, and technical hiring to drive expense growth. However, management still forecasts 2026 operating income above its 2025 result despite the infrastructure increase. No official Meta disclosure identifies a single $174 billion AI investment that management plans to cancel. The circulated figure does not replace the company’s published spending range or show a withdrawal from infrastructure development. Consequently, the available corporate guidance links Meta stock to continued spending rather than an announced retreat. Meta uses data centers and computing systems to develop models, improve recommendations, and strengthen advertising services. These projects can support revenue growth, but they also increase depreciation and operating expenses over time. That balance gives Meta stock exposure to both AI adoption and the financial cost of additional capacity. Amazon, Alphabet, Microsoft, and Meta could collectively spend about $725 billion during 2026, based on current plans and estimates. Amazon continues expanding AWS, while Microsoft develops Azure and supports its OpenAI partnership. Alphabet also funds Gemini and cloud infrastructure, while Meta develops models and computing resources for its platforms. Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.