Meta's stock has traded near $628–$630 on November 4 amid rotation back into mega-cap tech names. Q3 results delivered 26% revenue growth to $64.6 billion on stronger ad pricing and impressions, plus early traction for the Muse personal AI agent that reached 10 million users within weeks. Management guided Q4 revenue to $73–$76 billion while raising 2026 capex to $135–$145 billion and executing large bond and equity raises to fund AI infrastructure. These moves, alongside a $9.9 billion legal charge and negative credit outlook, have weighed on margins and free cash flow, creating the central tension between AI-driven growth expectations and near-term dilution and spending pressures for traders assessing the close.