Meta Partners With Reliance Industries for Indian AI Data Center

Meta Platforms, Inc. partnered with Reliance Industries to construct a 168-megawatt AI-enabled data center in India, marking the company's first such facility in the country. To further its artificial intelligence strategy, the company established a Superintelligence Labs division led by Alexandr Wang and is reportedly seeking tens of billions of dollars in funding. To diversify revenue streams, Meta also launched Instagram Plus, a global optional subscription service.

Financial performance remains mixed. The company reported strong fourth-quarter earnings with $56.31 billion in revenue and earnings per share of $10.44, exceeding analyst expectations. Meta declared a quarterly dividend of $0.525 per share payable on June 25, 2026. However, shares fell 2.3% on June 12 to close at $570.98, contributing to a year-to-date decline of approximately 14% as investors worry about heavy AI spending.

Internal and legal challenges persist. Company insiders sold millions of dollars in shares through pre-arranged plans. Additionally, Meta faced a security breach affecting 20,000 Instagram accounts due to an AI bug and saw a bid for a new trial denied in a youth social-media addiction case.