Meta Platforms has planned to raise up to USD 95 billion through equity offerings as it steps up spending on AI infrastructure. The Facebook and Instagram parent has launched stock offerings worth around USD 35 billion and plans a separate share sale program that could bring in another USD 60 billion.
The fundraising comes as Meta invests heavily in data centers, advanced chips and computing capacity to compete with AI companies such as OpenAI and Anthropic. The proposed total would mark the largest equity fundraising in Meta’s history.
Meta Plans Two Major Share Sales
According to reports, Meta has launched public offerings of common and preferred stock worth approximately USD 35 billion. The company also intends to introduce an at-the-market share sale program worth up to USD 60 billion.
The larger program is expected to begin after Meta’s new non-voting Class C shares start trading, which is anticipated in the first quarter of 2027. However, the company has not finalized the timing or terms of the proposed sale.
The plan highlights how major technology companies are exploring new ways to finance the growing cost of AI development, rather than relying entirely on their existing cash reserves.
NVIDIA, AMD and Broadcom Show Interest
Meta’s fundraising plan has attracted potential investment interest from three major chipmakers: NVIDIA, Advanced Micro Devices (AMD) and Broadcom. Together, they have expressed interest in purchasing up to USD 5 billion worth of Meta’s Class A shares.
The arrangement also raises questions about the growing financial links between AI companies and their suppliers. Chipmakers investing in a major customer could help support demand for their products while increasing the connections between companies that fund and build AI infrastructure.
Meta has been expanding its computing resources as competition across the AI industry intensifies. Building and operating large data centers requires substantial investment in processors, networking equipment, electricity, and other infrastructure.
AI Spending Puts Pressure on Meta’s Cash Flow
Meta’s investment plans are putting growing pressure on its finances. Reuters reported that the company recorded a cash outflow of USD 2.12 billion in the third quarter, its first negative free cash flow in more than a decade. A year earlier, it had generated USD 10.63 billion in positive free cash flow.
The company has also raised the lower end of its 2026 capital expenditure forecast to USD 135 billion, with the full range now standing at USD 135 billion to USD 145 billion.
Meta’s spending reflects its effort to build the computing capacity needed to develop and run advanced AI systems. However, the scale of the investment makes it increasingly important for the company to balance long-term growth ambitions with financial discipline.
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Big Tech Turns to External Funding for AI
Meta’s proposed fundraising reflects a broader shift across the technology sector, as companies increasingly turn to equity and debt markets to support AI infrastructure projects. Alphabet also expanded its equity offerings earlier this year, bringing the total to USD 84.75 billion, according to reports.
For Meta, the success of its fundraising strategy will depend partly on whether its growing AI investments deliver enough business value to justify their cost. The latest plan shows that the race to build AI infrastructure is becoming not only a technology contest but also a major financial challenge.