Meta to raise up to $95 billion in equity to fund costly AI expansion

Meta Platforms has outlined plans to secure as much as $95 billion through share financing to support its expanding artificial-intelligence infrastructure. The company has opened offerings of roughly $35 billion in common and convertible preferred shares, with another sale of up to $60 billion planned once its non-voting Class C stock starts trading, expected in the first quarter of 2027. Nvidia, Advanced Micro Devices and Broadcom have indicated interest in buying up to $5 billion of Class A shares.

The fundraising comes as Meta raises its 2026 capital-spending outlook to $135 billion-$145 billion, from a prior range of $130 billion-$145 billion. Its third-quarter cash outflow was $2.12 billion, versus cash generation of $10.63 billion a year earlier, while revenue reached $64.60 billion; the company forecast fourth-quarter sales of $73 billion-$76 billion. Meta reported $82.45 billion in cash and marketable securities against $80.92 billion in long-term debt at September 30, and has future spending commitments of about $825 billion, mainly tied to computing and AI infrastructure.