Meta Platforms said it will raise $95 billion to fund a rapid buildout of artificial-intelligence infrastructure, unveiling a two-part equity plan that sent shares down about 1.6% in morning trading. The company will sell $35 billion through underwritten public offerings and up to $60 billion via an at-the-market program, as it races to expand data centers and develop so-called superintelligence and AI agents such as Muse. Chipmakers Nvidia, AMD and Broadcom have expressed interest in buying as much as $5 billion of the stock, Meta said.
The move underscores the soaring price tag of the AI arms race. Goldman Sachs forecasts AI-related capital outlays could reach $7.6 trillion from 2026 to 2031. Meta recently lifted full-year capital spending guidance to $135 billion–$145 billion and is building four “superclusters,” each exceeding 1 gigawatt of capacity, aiming to nearly double infrastructure in 2026. Management said funding will combine operating cash flow, investment-grade debt, partnerships and equity. The raise follows a quarter in which revenue rose 26% but negative free cash flow and higher capex weighed on investor sentiment, highlighting the balance between growth ambitions and shareholder dilution.
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