Meta Platforms Inc. (META) shares experienced some intraday volatility on Friday, dipping early before reversing course and moving higher. The initial selling pressure came after a leaked internal memo surfaced, detailing the company's massive multi-year capital spending commitments for artificial intelligence infrastructure.

As of premarket trading, Nasdaq futures were down 0.19% while S&P 500 futures edged up 0.04%, suggesting a mixed open for broader markets.

Leaked Memo Reveals Massive Hardware Deals

According to internal company documentation reviewed by Reuters, Meta is locking in substantial hardware deals. The leaked documents indicate the company is purchasing NAND flash memory from Sandisk Corp., DRAM from Samsung Electronics Co., Ltd., and fiber optics from Sumitomo Electric Industries Ltd.

These infrastructure commitments align with Meta's expanding physical footprint, which recently included breaking ground on a 1 gigawatt, AI-optimized data center in Sturgeon County, Alberta—representing a 13 billion Canadian dollar investment.

Zuckerberg Introduces New Muse Spark 1.1

The infrastructure expansion follows Thursday's launch of Meta's latest AI model. CEO Mark Zuckerberg announced Muse Spark 1.1 in a post on X, saying, "Today we're releasing Muse Spark 1.1 — a strong agentic and coding model at a very low price. It's available through our new Meta Model API and in Meta AI."

Analyst Outlook On Infrastructure Spending

Prior to the leak, BNP Paribas analyst Nick Jones highlighted that investors remain highly focused on the company's capital spending plans. Jones anticipated that Meta would raise its 2026 capital expenditure outlook by at least $10 billion from its current range of $125 billion to $145 billion to cover rising component costs.

Critical Support and Resistance Levels for META

The stock remains about 13.1% above its 20-day simple moving average of $579.69 and 9.2% above its 50-day simple moving average of $600.49. It also trades 1.9% above its 200-day simple moving average of $643.20, a level many investors view as an important indicator of the longer-term trend.

Despite the recent strength, the technical picture is not fully bullish. The 50-day moving average remains below the 200-day moving average, a bearish "death cross" that formed in December 2025. However, Meta's move back above its 200-day average suggests buyers have regained momentum following the weakness seen after the June low.

Momentum indicators also show improving sentiment. The moving average convergence divergence (MACD) indicator remains above its signal line, with a positive histogram, indicating buying pressure has strengthened.

On the upside, $673 remains the next key resistance level. On the downside, $595 is the primary support area, near the 20-day and 50-day moving averages.

META Price Action: Meta Platforms shares were up 3.49% at $653.50 during premarket trading on Friday, according to market data.