Tech earnings season is back (yes, I know it feels like it never ends). This time, we’ve got a slight twist: Meta Platforms has broken with the pack and is reporting its September-quarter earnings on Wednesday, a week ahead of its big tech counterparts, Google, Microsoft and Amazon. (Apple is even later, on Nov. 2.) By reporting earlier than the others, Meta ensures it will grab more of the spotlight, for better or worse.

Until last week’s market sell-off, Meta had been riding a wave of enthusiasm on Wall Street, thanks to chatter about its Muse personal agent and recently released Muse Wonder AI models. Things changed last week, particularly on Friday, as renewed jitters about the AI expansion tanked most tech stocks. Given Meta’s gargantuan spending on AI development, this week’s update will provide a new test of investor sentiment toward Meta shares.