Meta’s filing shows about $825 billion of future leases and contracts, up from roughly $700 billion in July, and it raised the floor of its 2026 capex range to $135 billion. The stock fell anyway. Tesla beat, turned free cash flow positive and cut full-year capex to about $20 billion, then gave back the gain as the Optimus timeline got tempered. Then luxury: Hermes posted its weakest quarterly growth since early 2020 and is heading for its worst year since it listed in 1993. Plus Intel’s path to a trillion dollars, a frozen housing market, and Airbnb banning chores.
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