New York, Feb 27, 2026, 10:38 ET — Regular session.
Shares of Meta Platforms, Inc. slid 1.4% to $647.80 on Friday, slipping from Thursday’s $657.01 close. The move followed a report that the Facebook and Instagram parent has inked a multi-billion-dollar deal to rent Google’s AI chips. According to The Information, Meta’s multi-year agreement secures use of Google’s Tensor Processing Units (TPUs) for building new AI models. The companies are also said to be in talks over Meta potentially buying the chips for its data centers as early as next year, after previous supply arrangements with AMD and Nvidia. 1
The report landed in a market on edge over the escalating costs of the AI rollout. Right from the open, Wall Street’s major indexes slipped, with the Nasdaq shedding 1.15% at the bell. AI-related concerns, coupled with an inflation number that topped forecasts, dragged on growth shares. 2
The real unknown is what Meta and the rest are getting in exchange for their heavy chip spending. “There is very little definitive right now,” said Kristina Hooper, chief market strategist at Man Group, who pointed to investor uncertainty as AI shakes up the landscape. Keith Lerner at Truist Advisory Services observed that excitement around AI has shifted to “heightened anxiety,” with Broadcom’s earnings coming up Wednesday and the February U.S. jobs numbers landing March 6. 3
Google’s TPUs, specialized chips designed for AI training and inference, fall into the same general bucket as the GPUs driving much of today’s surge. For Meta, leasing these chips could speed up access to compute, sidestepping delays tied to building out fresh data center space.
Insider activity cropped up in another filing: Meta CFO Susan Li, acting via a trust, unloaded 55,702 shares on Feb. 24, pulling in roughly $35.3 million, according to the document. The transactions were prearranged under a Rule 10b5-1 plan, which lets executives schedule trades ahead of time. 4
Regulators in Europe are still turning up the heat. An adviser to the EU’s highest court sided with the bloc’s watchdogs seeking data from Meta as part of two antitrust probes, noting the Commission holds “broad powers of investigation.” The opinion isn’t binding, but judges are set to consider it in the months ahead. 5
Meta’s social media platforms are under legal fire in the U.S., too. In court this week, a young woman from California told jurors that addiction to Instagram and Google’s YouTube damaged her mental health. Both Meta and Google have pushed back, disputing the claims. 6
Meta’s big move into data centers isn’t without controversy. Environmental law group Earthjustice says Louisiana utility regulators turned down their call to investigate a $27 billion Meta data center plan. Earthjustice had argued the way the project is set up could leave utility customers footing the bill. 7
Meta investors know the drill: ramping up compute power might deliver stronger AI products, though it also highlights rising costs and the wait for profits. That push-pull has been enough to jolt the stock in a market quick to sell before sorting out the details.
March 4 stands out as the next key date for Meta, lined up for a slot at Morgan Stanley’s Technology, Media & Telecom Conference. Investors are expected to push for details on AI infrastructure and chip procurement strategies during the appearance. 8
