Meta announces $95 billion stock offering to fund AI expansion
The company said chipmakers Nvidia, AMD and Broadcom may buy up to $5 billion in stock as it funds data centers and cloud computing.
- On Monday, Meta Platforms launched public offerings of about $35 billion in common stock and convertible preferred stock to finance its costly AI expansion.
- The company plans to raise a total of $95 billion to support investments in AI infrastructure and compete with rival AI heavyweights OpenAI and Anthropic.
- Chipmakers Nvidia, AMD, and Broadcom will act as cornerstone investors, expressing interest in purchasing up to $5 billion of Meta's Class A common stock.
- Meta reported a 26% revenue jump last week, though shares tumbled 7% on Thursday after the company warned it needs "hundreds of billions of dollars" for AI.
- Capital spending of up to $145 billion is projected for this year, as the company funds "emerging AI opportunities" across its family of apps including Instagram and WhatsApp.
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Meta Plans Record $95 Billion Fundraising to Finance AI Expansion
Meta Platforms announced plans to raise as much as $95 billion through equity financing, marking its largest-ever fundraising effort as the social media company accelerates ... The post Meta Plans Record $95 Billion Fundraising to Finance AI Expansion first appeared on [your]NEWS.
Meta aims to raise up to 95 billion dollars through the sale of shares. This amount is to be invested in the development of artificial intelligence within the company.
Meta unveils $95bn share sale as AI spending drains cash reserves
Meta has announced plans to raise up to $95bn (£71bn) through share sales to fund its AI expansion, as soaring infrastructure costs put pressure on the Facebook owner’s cash flow. The tech giant said on Monday it would raise $35m through public equity offerings, followed by a further $60bn through a programme allowing it to [...]
Meta plans to raise a total of $95 billion to invest in artificial intelligence, data centers, and the development of so-called superintelligence. It plans to raise $35 billion through initial public offerings (IPOs), followed by another $60 billion through a share-market program.
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