Meta plans to raise up to $95 billion through stock sales to fund AI buildout

In brief

• Meta plans to raise up to $95 billion through several stock offerings to fund AI infrastructure and superintelligence work.
• About $35 billion comes first through underwritten public equity offerings, followed by up to $60 billion via an at-the-market program.
• Nvidia, AMD and Broadcom have expressed interest in buying up to $5 billion of the shares.

Capital raise of up to $95 billion

Meta Platforms has set out plans to raise as much as $95 billion through several stock offerings, according to a filing made on Monday (Meta chce pozyskać prawie 100 mld dol. na AI. Jeden z największych ruchów w historii branży – Business Insider Polska) (Meta announces $95 billion stock offering to fund AI expansion – CNBC) (Meta looks to raise up to $95 billion from stock sales to fund its huge AI build-out – Business Insider) (Meta planuje wielką emisję akcji. Chce zdobyć nawet 95 mld dolarów – Bankier.pl). The money is meant to pay for heavy spending on AI infrastructure, including data centers, computing capacity and the development of new technology that the company hopes will help it compete in the race toward superintelligence (Zuckerberg szykuje wielką ofensywę. Meta potrzebuje pieniędzy na starcie z OpenAI – Rzeczpospolita).

Two-stage structure

The offering is set to come in two stages. Meta will first raise about $35 billion in underwritten public equity offerings. Of that amount, $22.5 billion will come from Class A common stock, and roughly $12.5 billion from mandatory convertible preferred shares. After that, the company plans to bring in up to $60 billion through an at-the-market program that will issue new nonvoting Class C shares.

Chipmakers interested in buying shares

Nvidia, AMD and Broadcom have signaled they want to purchase up to $5 billion of the shares, the company said in a statement. Meta's stock gained roughly 1.6% in premarket trading following the announcement.

Wider context of AI spending

The move comes as large technology companies pour record sums into AI infrastructure. Goldman Sachs projects that AI-related capital spending could reach about $7.6 trillion between 2026 and 2031, spanning computing, data centers and power. Meta says the planned investment will support what it calls "emerging AI opportunities," including its consumer AI products and CEO Mark Zuckerberg's stated goal of "personal superintelligence".

Competitive pressure

The Wall Street Journal reported that the raise is intended to help Meta compete with OpenAI, which has been investing heavily in its own AI systems. The filing shows the company is willing to dilute existing shareholders to secure the capital needed for that effort.