Meta Platforms Appeals $425M Verdict as $6B Corning AI Data Center Deal Advances
Meta Platforms faces a child safety trial with jury selection next Monday, challenging a prior $425 million verdict it plans to appeal. Concurrently, it struck a multi-year $6 billion deal with Corning to expand U.S. AI data centers and saw KeyBanc raise its price target to $855.
1. Child Safety Lawsuit Moves Forward
A lawsuit filed by New Mexico’s attorney general alleges Meta’s negligence enabled predators to harm minors, resulting in a jury selection set for next Monday. The trial is expected to run seven to eight weeks, and Meta intends to appeal the $425 million damages verdict issued last September.
2. $6 Billion Corning AI Data Center Partnership
Meta signed a multi-year agreement valued up to $6 billion with Corning to expand AI data center infrastructure across the United States. This deal aims to bolster the company’s capacity to support growing demand for large-scale AI workloads.
3. Analyst Sentiment and Price Target Increase
KeyBanc lifted its price target on Meta from $835 to $855 and maintained an Overweight rating, citing strong Q4 results and AI-driven productivity gains. The bank projects Meta’s revenue will exceed $90 billion between 2025 and 2027, underpinning its bullish outlook.