3 Numbers to Watch to Know if Meta Platforms' AI Spending Is Paying Off

Meta Platforms is investing heavily in AI with $135-145 billion planned capex for 2026, but investors should monitor three key metrics: advertising revenue growth (currently up 25.9% YoY), monetization of new AI products like Muse agent, and operating cash flow trends. While OCF grew 21.7% YoY, it's lagging capex growth of 72%, resulting in negative free cash flow of $2.1 billion in Q3 2026.