Huo Xing Finance reports that on October 22, according to BIT (bit.com) market data, META opened down more than 6%, wiping out $100 billion in market value. Meta disclosed future expenditure commitments of approximately $825 billion as of the end of September, a significant increase from $700 billion in July, covering $355.7 billion in data center leases and $454.5 billion in cloud computing and other contracts. On Thursday, its five-year CDS price rose to approximately 119.3 basis points, the highest since its listing, while its bonds weakened significantly relative to U.S. Treasuries. CDS spreads for Oracle, Microsoft, and Broadcom also rose simultaneously, as market concerns over technology sector debt risks continue to spread.
META shares fall more than 6% as future spending rises to $825 billion
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Summary
On-chain data shows META’s shares dropped over 6% on October 22, wiping out $100 billion in market value. The company reported that future spending rose to $825 billion by September, including $355.7 billion for data centers and $454.5 billion for cloud contracts. Altcoins to watch may respond to broader concerns about tech sector debt, as META’s five-year CDS reached a record high of 119.3 basis points. CDS spreads for Oracle, Microsoft, and Broadcom also rose, signaling increasing sector-wide risk.
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