Thursday, July 30, 2026 — META whiffs on revs, NVDA goes all-in on Texas, and the core CPI print keeps the Fed in a box.

META down hard after hours — revenue miss and a capex hike is the exact combo nobody wanted to see from a mega-cap AI spender. NVDA committing $50B to Texas AI leases — the scale is wild, but watch the credit risk flag, that’s new. Core CPI sticky at 2.57% YoY — the last mile on inflation is still a grind, and it’s why the 10-year yield is parked at 4.67%. Starbucks with a massive Q3 beat and raised guidance — this is interesting, the consumer isn’t dead, they’re just picky. Microsoft flashing two green signals on AI capex — the fear trade is breaking there, good signal for the buildout thesis.

META down hard after hours — revenue miss and a capex hike is the exact combo nobody wanted to see from a mega-cap AI spender.