Meta's shares have pulled back sharply today amid fresh European regulatory pressure over expanded corporate levies and ongoing U.S. state litigation, including a New Mexico case seeking up to $40 billion in penalties. The retreat follows September's strong rally fueled by the rapid adoption of the Muse personal AI agent, which quickly gained app-store traction and validated monetization potential beyond advertising. Heavy 2026 capex of $130–145 billion for AI infrastructure continues to weigh on free cash flow, while enterprise platform expansions and Connect announcements provide longer-term support. Traders are monitoring intraday momentum and any late regulatory updates that could influence the final close.