Tech
Meta Launches Up to $95 Billion Equity Raise to Fund AI Expansion
Meta Platforms launched public offerings of about $35 billion in common and convertible preferred stock and filed a separate at-the-market program for up to $60 billion in non-voting shares, in what would be its largest-ever equity fundraising to pay for its costly AI buildout.
Photo: Coolcaesar / Wikimedia Commons (CC BY-SA 3.0). Photo shows Facebook's former Palo Alto headquarters, not Meta's current Menlo Park campus.
Meta Platforms on Monday launched public offerings of about $35 billion in common stock and convertible preferred stock, as the Facebook parent seeks to finance its costly expansion in artificial intelligence.
The company also filed for a separate at-the-market program to sell non-voting shares worth as much as $60 billion, bringing the total potential raise to about $95 billion — its largest-ever equity fundraising, according to Reuters.
The announcement came on a day of extraordinary sums in the AI funding race: Anthropic unveiled its prospectus for an initial public offering on the same day, and SpaceX said an affiliate of investment firm Apollo Global Management would buy AI chips and server hardware and lease them to the company in a deal with total principal payments of about $40 billion.
Meta, the owner of Facebook and Instagram, is pouring money into AI infrastructure as competition for computing capacity intensifies. The scale of the planned raise underlines how the race to build AI systems has become a contest of balance sheets as much as of technology, with even the largest companies turning to capital markets to fund it.
Source: Reuters
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