Meta's stock hovers near $615 amid strong advertiser demand and AI-driven efficiencies that lifted Q2 ad revenue 27% year-over-year, with impressions up 14% and average prices rising 12%. Trader sentiment reflects relief from the recent $18 billion youth-safety settlement that removes a major overhang and frees focus on new products like the Muse personal AI agent and paid subscription tiers. Heavy 2026 capital spending of $130–145 billion to expand AI infrastructure continues to pressure near-term margins, while Threads surpassing 500 million monthly users and expanding WhatsApp business tools support long-term monetization. The day's close will hinge on any late-session macroeconomic moves or incremental AI announcements.