Meta eyes record $97.5 billion equity raise to fund AI expansion

Meta has expanded its planned equity fundraising to $97.5 billion to finance its artificial intelligence build-out, Business Recorder reported on Tuesday. The package includes $25 billion in common shares priced at $625 each, around $12.5 billion from convertible preferred shares, and a separate programme to sell as much as $60 billion in stock over time.

Nvidia said it would invest $3 billion, while Nvidia, Advanced Micro Devices and Broadcom have shown interest in contributing up to $5 billion altogether. Meta reported a $2.12 billion cash outflow in the third quarter, against positive cash flow of $10.63 billion a year earlier, and has lifted the lower end of its annual capital spending forecast to $135 billion. The fundraising comes as the company invests heavily in data centres and AI systems.