NEW YORK — Meta Platforms Inc. shares rose modestly to $600.22 in midday trading Tuesday, up 0.23% or $1.36, as investors continued digesting the social media giant's aggressive artificial intelligence investments and robust advertising performance following its strong first-quarter 2026 earnings report. The modest gain comes amid broader market caution but underscores ongoing confidence in Meta's ability to monetize AI across its family of apps despite significantly higher capital spending forecasts.

The stock has traded in a wide range this year, pulling back from 2025 highs near $796 after the company raised its 2026 capital expenditure guidance to $125 billion-$145 billion to fuel AI infrastructure buildout. Yet Meta's core advertising business remains exceptionally resilient, with Q1 revenue hitting a record $56.31 billion, up 33% year-over-year and beating analyst expectations.

Adjusted earnings per share reached $10.44 in the quarter, driven partly by a large one-time tax benefit, while core operational performance stayed solid. Daily active users across Meta's platforms exceeded 3.4 billion, highlighting the company's unmatched global reach even as it navigates regulatory and competitive pressures.

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