New York, Feb 26, 2026, 10:34 EST — Regular session
- Meta slipped roughly 0.5% after an adviser to the EU’s top court sided with regulators on antitrust data requests.
- Meta’s latest AI supply moves are in focus, with investors also eyeing ongoing questions over a Louisiana data-center agreement.
- CFO Susan Li is scheduled to appear at Morgan Stanley’s TMT conference on March 4.
Meta Platforms slid roughly 0.5% to $650.24 Thursday morning, outpacing a nearly 2% Nasdaq drop, after an adviser to the EU’s highest court said Meta’s appeals against antitrust info demands should be thrown out. Regulatory clouds remain on the horizon. 1
The opinion drops just as big tech stocks are already on edge. Lately, any sign of steeper compliance bills, tougher data restrictions, or protracted court showdowns has triggered sharp selloffs from investors wary of anything eating into profits.
Meta wants investors on board for a hefty, years-long investment in AI and data centers. The company says this outlay is meant to shore up the ad business and help its apps stay ahead, but it means there’s not much cushion if regulators turn up the heat.
In Brussels, a top adviser at the Court of Justice of the European Union said Meta’s objections to the European Commission’s information requests should be thrown out. Advocate General Athanasios Rantos argued the EU General Court got it right on both the necessity of the information and the safeguards in place. The adviser’s opinion isn’t binding. Judges are expected to decide in the next few months. 2
Louisiana utility regulators have turned down a request from an environmental law group to probe Meta’s planned $27 billion data-center project in Richland Parish, which involves building three new gas-fired power plants, the group said. “By dismissing this motion, the PSC is giving the green light” to more deals like this, said Susan Stevens Miller, senior attorney at Earthjustice. 3
Meta’s appetite for AI hardware has drawn attention since Tuesday, after Advanced Micro Devices announced a deal to supply up to $60 billion in AI chips to Meta over five years. The agreement features a warrant that could let Meta snap up as much as 10% of AMD. “Meta is locking in supply,” said Matt Britzman, senior equity analyst at Hargreaves Lansdown. But Dan Coatsworth at AJ Bell flagged that “circular” deals like this can give investors “something else to worry about.” 4
On Wednesday, Meta announced that CFO Susan Li is set to appear at Morgan Stanley’s Technology, Media & Telecom Conference on March 4. The company plans to share a webcast on its investor relations site. 5
Meta’s Chief Operating Officer Javier Olivan disclosed share sales through a Rule 10b5-1 trading plan, according to a separate SEC filing signed Feb. 25. The plan, common among executives, sets up scheduled share sales in advance. 6
The takeaway for markets isn’t clear-cut. Judges aren’t obligated to follow the EU court adviser’s opinion, so a final decision could break another way — potentially dropping when investors are zeroed in on ad spending and AI numbers, courtroom scheduling aside.
Traders are eyeing potential new regulatory steps out of Europe and the U.S., and they’re also tuned in for Li’s comments on March 4—everyone wants clues on spending, infrastructure, and how Meta intends to prevent AI expenses from eroding margins.
