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Meta
Every piece of Zan Digital analysis that covers Meta — 4 pieces, each figure traced to a named source.
- 001AI Capex 2026: The $725B Bet With No Payback MathFour hyperscalers plan roughly $725B of capex in 2026, up 77% on 2025. Here is where the money goes, what it earns today, and the three numbers to watch.$725B
- 002GPU Depreciation: The $176B Accounting Question in AIHyperscalers depreciate AI hardware over 5 to 6 years. One investor puts the resulting overstatement at $176B through 2028. Both sides of the argument, checked.$176B
- 003SaaS Multiples in an AI Capex Slowdown: 3 ScenariosAI capex adds roughly 140 basis points to US growth in 2026. A slowdown would lift SaaS multiples on one side and crush them on the other. Three scenarios.140bp
- 004The $662B Data Centre Leases Off Big Tech Balance SheetsMoody's found $969B in hyperscaler lease commitments, $662B of it not yet on any balance sheet. What the rule is, why it matters, and when it arrives.$969B