Wells Fargo Adjusts Price Target on Meta Platforms to $796 From $640, Keeps Overweight Rating

Meta's C$13 billion data center plan in Alberta has increased the province's appeal for hyperscalers, according to Capital Power CEO Avik Dey. Capital Power is in talks to supply electricity to potential projects. Alberta's abundant natural gas, available land, and cold climate make it attractive for data centers. BCE recently announced plans to expand its Saskatchewan data center to 1.2 gigawatts. Alberta is encouraging data center proponents to invest in new electricity supply.

Pennsylvania will receive at least $500 million from a settlement with Meta (parent of Facebook and Instagram) over allegations of harming young users. The funds, to be paid over a decade, will support youth mental health and school programs. The state must now decide how to allocate the money, with debates over control and distribution.

Meta agreed to a $17.1 billion settlement with 51 state and territory attorneys general over allegations that Facebook and Instagram were designed to addict children. The company will pay $12.1 billion guaranteed, with the total potentially reaching $17.1 billion, and implement new protections for teenage users. Meta generated $201 billion in revenue in 2025, and the settlement represents about 6% of one year's revenue, payable over a decade.

Big Tech companies, including Meta, Broadcom, and Nvidia, have provided up to $300B in guarantees for AI data centers and chips, helping to finance projects without recording most as debt. These guarantees support asset values but may obscure potential liabilities. Morgan Stanley estimates seven major firms have over $3.1T in off-balance-sheet commitments. Credit agencies are monitoring these guarantees.

Meta agreed to a $17.1B settlement with U.S. states, limiting teen use of Instagram and Facebook. The company will pay at least $12.1B over 10 years for youth mental health services. The settlement follows allegations of designing features to increase teen scrolling despite mental health risks. Meta denies wrongdoing and says the changes build on existing teen protections.

Meta lost a case in Germany over fake ads impersonating Finanzfluss. The court ruled Meta responsible for such content due to its ad auction and feed algorithms, ordering it to stop distributing the ads, provide data on their reach, and pay damages. Each future violation could result in a fine of up to 250,000 euros. The judgment is not final.