Meta: Facebook plans massive $29-34 billion CAPEX

Nov 05, 2021 | Posted by Abdul-Rahman Oladimeji

Facebook says it plans to spend between $29 billion and $34 billion on capital investments in 2022. This is an increase from the social media giant’s $19 billion spend this year. Chief Financial Officer at Facebook, David Wehner, says the rise in expenditure was due to investments in servers, office facilities, network infrastructure, and data centers. 

Wehner said one of the core factors driving the increase in the company’s capital expenditure is an investment in AI and machine learning capabilities. He noted that the investment would benefit the company’s efforts in ranking and recommendations across all Facebook products. The investment will be Facebook’s largest annual capital expenditure yet. The company first spent $1 billion in 2012 on CAPEX before gradually increasing to $7 billion in 2017. It almost doubled its CAPEX in 2018 by investing $13.9 billion. It also spent $15 billion in 2019.