**[Serenity: Meta's Capital Expenditure Guidance Expected to Increase Due to Continued Expansion of Independent AI Computing Infrastructure]** BlockBeats reported on July 1 that Serenity published an analysis suggesting that there is significant market disagreement regarding whether Meta Platforms will reduce capital expenditure (capex) due to "excess computing power." Some believe this claim has been overinterpreted, as the current situation is closer to "computing power shortage" rather than "overcapacity." For instance, hyperscale cloud service providers like Google even adjusted their resource allocation to Meta in March this year due to their own computing power constraints. Meanwhile, internal AI projects at Meta have further intensified supply-demand pressures. Against this backdrop, Meta is believed to be accelerating the signing of large-scale, long-term contracts with emerging cloud infrastructure providers such as CoreWeave and Nebius, with the total contract value reportedly exceeding $48 billion. Even if Meta has some "redundant computing power," it is more likely to be commercially allocated through "take-or-pay" models rather than simply cutting investments. Overall, its investment in AI infrastructure is still expected to continue expanding. [Original Link]