The Globe and Mail reports in its Thursday, April 30, edition that Meta Platforms raised its annual capital spending forecast on Wednesday, doubling down on its decision to plow billions into artificial intelligence infrastructure even as it seeks to cut costs with planned layoffs. A Reuters dispatch to The Globe reports that Meta projects 2026 capital expenditure between $125-billion and $145-billion, compared with its prior forecast of $115-billion to $135-billion (all figures U.S.). Meta also warned that legal and regulatory blowback in the EU and the U.S. "could significantly impact our business and financial results." Meta said, "We continue to see scrutiny on youth-related issues and have additional trials scheduled for this year in the U.S., which may ultimately result in a material loss." Meta reported first quarter revenue of $56.31-billion, beating analysts' average estimate of $55.45-billion. It expects second quarter revenue of $58-billion to $61-billion, largely in line with estimates of $59.5-billion. Family daily active people, a metric Meta uses to track unique users who open any one of its apps in a day, rose 4 per cent in the first quarter from a year earlier to 3.56 billion.