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Sentiment · FY2026 Q1
What companies say about each other on earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“Last week, we announced that Meta is deploying millions of Blackwells and Rubin GPUs, NVIDIA CPUs and Spectrum x Ethernet for training and inference.”
Meta committing to millions of NVIDIA GPUs signals a very large AI infrastructure buildout at Meta Superintelligence Labs.
“at Meta, advancements in their GEM model drove a 3.5% increase in ad clicks on Facebook and more than 1% gain in conversations on Instagram, translating into meaningful revenue growth.”
NVIDIA cites Meta's ad-model gains as ROI evidence driving its largest customers to accelerate capex, a positive read-through for Meta's ad revenue.
“Many of these open spaces will be filled with a much larger and more comprehensive assortment from Meta.”
Best Buy is dedicating expanded store space to a larger Meta product assortment, a read-through on rising Meta hardware (glasses/devices) retail presence.
“We do think we have the best relationship with vendor partners, and our relationship with Meta is phenomenal.”
Best Buy frames Meta as a top vendor partner, particularly around AI glasses, a growth category Best Buy sells and merchandises.
“In Q2, Meta reported over a 5% increase in ad conversions on Instagram and 3% gain on Facebook feed.”
NVIDIA cites Meta's ad-conversion gains from generative-AI recommendation models running on its GPUs.
“We launched the latest AI glasses from Meta across all stores.”
Best Buy launched Meta's latest AI glasses across all stores with Meta-staffed showcase areas, and says demand for demos outpaces available appointments.
“Lighthouse model builders, including OpenAI, Meta, and Mastral, are using the GB200 NBL72 at data center scale for both training next-generation models and serving inference models in production.”
Meta is named among lighthouse model builders deploying NVIDIA's GB200 NVL72 at data-center scale for training and inference, a read-through on Meta's continued large-scale AI infrastructure spend.
“This fall, we are amplifying our partnership with Meta, bringing AI glasses and expanded experiences to all stores.”
Best Buy is expanding its Meta AI-glasses (Ray-Ban and Oakley) retail presence to all stores with immersive showcases, a distribution read-through for Meta's wearables.
“we announced a strategic partnership with Meta to scale AI efficiency across every layer of compute from AI-enabled wearables to AI data centers on a consistent compute platform.”
Arm and Meta announced a strategic partnership spanning wearables to data centers, a read-through on Meta standardizing AI compute across Arm's platform.
“Driven by contracts signed with Meta, NVIDIA, and others as we continue to diversify our customer backlog.”
Meta signed a cloud contract contributing to Oracle’s $68B RPO growth in the quarter.
“This quarter, we added Google Cloud and Meta to the growing list of SpectrumX customers.”
Meta was added as a new SpectrumX networking customer this quarter.
“We are also excited to expand our in-store experience and presence for Ray-Ban Meta glasses. This technology and other wearable AI products yet to be launched will transform the way people live and Best Buy is the ultimate customer education destination.”
Best Buy is expanding its in-store presence and customer education for Ray-Ban Meta smart glasses, positioning itself as a launch destination for Meta's wearable AI hardware.
“Maybe similar to what you see at Anthropic in coding today”
An analyst cited Anthropic as an example of a model that excels at a specific use case (coding), asking whether Meta needs a leading general-purpose model, a read-through on Anthropic's recognized strength in coding.
“I don't think we either of us mentioned the Manus acquisition in the upfront comments”
Zuckerberg flagged Meta's acquisition of Manus, an AI agent tool with a subscription base of businesses, which Meta plans to integrate into its ads and business manager for more integrated business solutions.
“the JV that we announced with Blue Owl is sort of an example of finding a solution that enabled us to partner with external capital providers to codevelop data centers”
Meta partnered with Blue Owl in a JV to co-develop the Louisiana data center, using external capital to fund future compute capacity off Meta's balance sheet.
“NVIDIA is doing an amazing job, right, I think, extremely well-deserved success.”
Zuckerberg praises NVIDIA, Meta's key AI hardware supplier, as doing an amazing job amid Meta's aggressive infrastructure buildout, reinforcing sustained chip demand.
“We also made $15.1 billion in nonmarketable equity investments in the second quarter which includes our minority investment in Scale AI, along with other investment activities.”
Meta made a minority equity investment in Scale AI as part of $15.1 billion in nonmarketable equity investments during the quarter.
“we are pleased to have partners investing alongside us and bringing Llama to market like AWS and Azure, who are helping us host Llama.”
Meta describes Azure (Microsoft) as a hosting partner helping bring its Llama models to market, though Meta itself funds Llama's training infrastructure.
“we are pleased to have partners investing alongside us and bringing Llama to market like AWS and Azure, who are helping us host Llama.”
Meta describes AWS as a hosting partner helping bring its Llama models to market, though Meta itself funds Llama's training infrastructure.
“We've got some exciting new launches with our partner, EssilorLuxottica, later this year, as well that should expand that category and add some new technological capabilities to the glasses.”
Meta frames EssilorLuxottica as its glasses manufacturing partner, with new joint launches expected later in 2025 to expand the Ray-Ban Meta AI Glasses category.
“I actually think that the community note system, like what X has had for a while is actually just more effective than what we were doing before.”
Zuckerberg cites X's community-notes model as more effective than Meta's prior fact-checking approach, motivating Meta's shift to a similar system.
“I also just think in light of some of the recent news, the new competitor DeepSeek from China, I think it also just puts -- it's one of the things that we're talking about is there's going to be an open source standard globally.”
Zuckerberg frames DeepSeek's emergence as reinforcing Meta's conviction that an open-source AI standard should be American-led, treating DeepSeek as a competitive/geopolitical signal rather than a direct threat to Meta's business.
“In the second-half of 2024, we introduced an innovative new machine learning system in partnership with Nvidia, called Andromeda.”
Meta credits its Nvidia partnership (Andromeda) with a 10,000x increase in ads-retrieval model complexity and an 8% lift in ad quality, underscoring Nvidia's role as a key infrastructure partner for Meta's ad-ranking systems.
Q4 Family of Apps revenue reached $58.9 billion, up 25%, with free cash flow of $14.1 billion as AI coding productivity reached an inflection point and glasses sales tripled in 2025. The strong Q1 2026 guide of $53.5-$56.5 billion implied accelerating growth entering 2026. FY2026 CAPEX was guided at $115-$135 billion with expenses of $162-$169 billion.
Cloud & AI | Innovation & R&D | Capex Investment | Revenue Growth | Product Launch | Capital Allocation | Competitive Dynamics | Margin | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 7 | 6 | 4 | 3 | 4 | 2 | 1 | |
| 2025Q1 | 7 | 2 | 5 | 2 | 4 | 2 | 2 | 2 |
| 2025Q2 | 5 | 6 | 6 | 2 | 2 | 5 | 1 | 2 |
| 2025Q3 | 4 | 5 | 4 | 7 | 3 | 3 | 1 | 4 |
| 2025Q4 | 5 | 8 | 3 | 4 | 2 | 4 | 3 | 3 |
| 2026Q1 | 9 | 3 | 2 | 3 | 3 | 3 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Cloud & AI | 7 | 7 | 5 | 4 | 5 | 9 |
| Innovation & R&D | 6 | 2 | 6 | 5 | 8 | 3 |
| Capex Investment | 4 | 5 | 6 | 4 | 3 | 2 |
| Revenue Growth | 3 | 2 | 2 | 7 | 4 | 3 |
| Product Launch | 4 | 4 | 2 | 3 | 2 | 3 |
| Capital Allocation | 2 | 5 | 3 | 4 | ||
| Competitive Dynamics | 2 | 2 | 1 | 1 | 3 | 3 |
| Margin | 1 | 2 | 2 | 4 | 3 |
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Doug Anmuth | JPMorgan | 11 (18%) |
| Brian Nowak | Morgan Stanley | 11 (0%) |
| Justin Post | Bank of America |
| Mark Shmulik | Bernstein | 10 (0%) |
| Ken Gawrelski | Wells Fargo | 9 (0%) |
| Youssef Squali | Truist Securities | 8 (25%) |
| Ron Josey | Citigroup | 7 (0%) |
| Eric Sheridan | Goldman Sachs | 7 (0%) |
| Ross Sandler | Barclays | 5 (0%) |
| Mark Mahaney | Evercore ISI | 4 (25%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| JPMorgan | 1 | 11 (18%) |
| Morgan Stanley | 1 | 11 (0%) |
| Bank of America | 1 | 10 (10%) |
| Bernstein | 1 | 10 (0%) |
| Wells Fargo | 1 | 9 (0%) |
| Truist Securities | 1 | 8 (25%) |
| Goldman Sachs | 1 | 7 (0%) |
| Citigroup | 1 | 7 (0%) |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
META Meta Platforms, Inc. | 8 | +33.1% | |
| DASH DoorDash | 7 | +33.1% | |
| EVER EverQuote, Inc. | 8 | +14.5% | |
| GOOGL Alphabet Inc. | 9 | +21.8% | |
| NBIS Nebius Group N.V. | 8 | +621.5% | |
| RDDT Reddit, Inc. | 9 | +69.1% |