Industry research firm SemiAnalysis released a report on July 7 stating that Meta had already signed contracts for over 5GW of cloud and hosted data center compute resources in the first half of 2026 alone. The firm believes Meta's compute infrastructure expansion is far from peaking and predicts that Meta's 2027 capital expenditure will be "shockingly high." SemiAnalysis listed four high-margin business scenarios justifying Meta's continued large-scale compute procurement: the Meta superintelligence lab, an advertising recommendation system planned to expand 10-fold, a reported $10 billion compute deal with Anthropic, and a "SpaceX model" on-demand compute contract. The firm calculated that if Meta only allocates 200 megawatts of compute for external commercial use at SpaceX-equivalent pricing, it could generate over $10 billion in annual revenue. SemiAnalysis strongly rebutted market concerns about compute oversupply, arguing that Meta's data center and compute procurement scale will only accelerate.

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