Meta is being pulled in two directions at once. In Brussels, regulators have slapped the company with a five-day ultimatum to open up WhatsApp Business API to rival chatbots. On the other side of the world, the social media giant just signed a high-profile data-center deal with Reliance Industries in India’s Gujarat state. The stock, meanwhile, sits at roughly €495 — nearly 27% below its 52-week peak and technically oversold with a relative strength index of 37.1.
The European Commission’s interim measure, imposed on 9 June, forces Meta to restore free access to the WhatsApp Business API on the same terms that applied before October 2025. Competition commissioner Teresa Ribera called the access fees Meta introduced in April “economically unreasonable” and found the company’s justifications unconvincing. The order is in place until June 2029; if Meta is later found to have breached EU competition law, it faces a fine of up to 10% of global annual turnover. Developers of AI assistants had complained that Meta blocked their access to WhatsApp, prompting an investigation that began in December.
While the regulatory drama unfolded in Europe, Meta announced a partnership with Reliance Industries to build a 168-megawatt AI data center in Jamnagar, Gujarat. Reliance will handle design, construction, power supply, connectivity and operations. The facility will run on renewable energy and use desalinated seawater for cooling. Meta will cover all energy and water costs. Reliance expects completion within two years and has the option to expand. Separately, Meta has secured nearly one gigawatt of new solar capacity in India — 837 megawatts from CleanMax in Rajasthan and Karnataka, plus another 88 megawatts from Fourth Partner Energy across four states.
The Indian push builds on a relationship that started in 2020 with Meta’s multibillion-dollar investment in Jio Platforms. Last year the two companies formed a $100 million joint venture to develop enterprise AI solutions for India and international markets. India’s appeal to global tech firms has surged: roughly $400 billion has flowed into the country’s AI ecosystem over the past twelve months. Nomura predicts India’s data-center capacity will reach seven gigawatts by 2030, helped by a 20-year tax exemption for hyperscalers serving global customers from Indian facilities.
Should investors sell immediately? Or is it worth buying Meta?
On a separate front, analysts at Truist have laid out a bullish thesis for Meta’s subscription push. They estimate that paid “Plus” tiers for Facebook, Instagram and WhatsApp, together with paid Meta AI offerings, could generate more than $20 billion in revenue by 2030 — roughly 5% of the company’s total projected sales. The team expects over 360 million paying users, with Instagram Plus alone contributing around $10 billion and Meta AI about $6.5 billion. Truist maintains a buy rating with a price target of $840. Overall, 58 of 64 analysts covering Meta recommend buying the stock, and the average target of $828.80 implies roughly 42% upside from current levels.
Yet the market remains wary. Meta has raised its 2026 AI-investment forecast to between $125 billion and $145 billion, part of an industry-wide wave that will see Amazon, Google and Microsoft collectively spend more than $720 billion on AI chips and data centers that year. Those capital demands have weighed on sentiment, and a recent rumor that Meta might launch a multibillion-dollar equity offering — dismissed as “pure speculation” by a company spokesman — spooked investors. The stock has fallen nearly 11% year-to-date and closed at €495.45, roughly 7% below its 50-day moving average and well under the 200-day line of about €562.
Whether the India expansion and the subscription push can justify the spending spree — and offset the regulatory headache in Europe — will start to become clearer when Meta reports its next quarterly results, traditionally scheduled for late July. For now, the stock sits in oversold territory, caught between a bullish long-term story and several near-term headwinds.
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