- Meta Platforms plans to raise up to $95 billion through stock offerings to fund AI infrastructure and computing capacity.
- The company priced an immediate $35 billion offering of common and convertible preferred stock, with a separate $60 billion at-the-market program planned for early 2027.
- Nvidia, AMD, and Broadcom indicated non-binding interest in purchasing up to $5 billion combined of the Class A offering.
- Meta expects to spend $135 billion to $145 billion on capital expenditure in 2026, largely to expand AI data center capacity.
What Happened
Meta Platforms announced plans to raise up to $95 billion through equity offerings to fund AI infrastructure, Analytics India Magazine reported. The plan combines an immediate $35 billion offering of common and convertible preferred stock with a separate program to sell up to $60 billion in shares over time.
Why It Matters
The raise underscores how capital-intensive the AI buildout has become even for a company Meta’s size. It follows a similar pattern among other hyperscalers, including Alphabet’s own $80 billion capital raise for AI infrastructure earlier in 2026.
Technical Details
The initial $35 billion offering splits into $22.5 billion in Class A common stock and roughly $12.5 billion in depositary shares tied to mandatory convertible preferred stock. Morgan Stanley and Goldman Sachs are leading the offerings. Meta operates data centers across 23 US states and is building four “superclusters,” each with more than one gigawatt of capacity, and expects to nearly double its total infrastructure capacity in 2026 versus the prior year.
Who’s Affected
Nvidia, AMD, and Broadcom have each indicated non-binding interest in buying up to $5 billion combined of the Class A shares, signaling how closely chipmakers’ fortunes are now tied to hyperscaler capital raises. Meta shareholders face potential dilution from the new share classes, while the financing is intended to support the company’s AI products and the “personal superintelligence” effort it has cited in recent infrastructure announcements.
What’s Next
The planned $60 billion at-the-market program is not finalized and is set to begin in the first quarter of 2027, following the start of trading in Meta’s new Class C common stock. Meta generated $97 billion in operating cash flow in the first nine months of 2026 and held about $82 billion in cash and marketable securities as of the end of September.
