$META could finance $220B in CapEx in 2027 without needing to go for external financing (which is 50% more than they will spend this year on CapEx). $META generated $133B in operating cash flow in the LTM. Next year, with modest revenue growth, they will probably be at the $140B-$150B mark (even with the $10B litigation charge). If they cut their Reality Labs spend, which is still $15-$20B per year, they get could get another $10B, which gets them to $160B. They also have $80B in cash on the balance sheet. Even if they leave $20B of cash and spend $60B in 2027, only $2.75B of debt matures, so their total spend can go up to $220B of CapEx spend. In April 2026, they also raised $25B in bond issuances. If they did the same in 2027 (which I don't think the market would freak out about), tha
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