Meta Sets $95 Billion Share Sale to Fund AI Data Centers

Meta announced Monday that it plans to raise $95 billion to finance its expansion into artificial intelligence infrastructure and superintelligence projects. The company will initially issue $35 billion through underwritten public equity offerings. It intends to secure the remaining $60 billion through an at-the-market program.

Nvidia, Advanced Micro Devices, and Broadcom expressed interest in purchasing up to $5 billion of the new shares, according to a company statement. Meta’s stock dropped 1.6% in morning trading following the disclosure. The firm stated that the capital will support emerging AI opportunities, including its app family, the AI agent Muse, and its data center operations.

The company aims to fund these investments using operating cash flow, investment-grade debt, partnerships, and equity capital. Meta is currently constructing four superclusters, each with more than 1 gigawatt of capacity. It projects that total infrastructure capacity will nearly double in 2026 compared to the previous year.

Goldman Sachs estimates that AI-related capital spending across compute, data centers, and power will reach approximately $7.6 trillion between 2026 and 2031. Meta recently increased its full-year capital expenditure forecast to a range of $135 billion to $145 billion. This adjustment raised the bottom of the range from $130 billion, which contributed to a decline in shares earlier in the week.

Ben Wood, senior partner at CCS Insight, noted that the move reflects the high cost of maintaining a competitive position in the AI sector. He observed that other major technology firms are also accessing capital markets for similar reasons. Alphabet stated in June that it would seek to raise $85 billion, while SpaceX completed a $40 billion debt financing to purchase graphics processing units.

Anthropic is preparing for an initial public offering, and TikTok U.S. is seeking multiple gigawatts of computing capacity in the coming years. Meta’s third-quarter revenue grew 26% year over year to $64.60 billion, exceeding the $63.37 billion analysts had expected. Investors focused on the company’s negative free cash flow and the increased spending outlook during the earnings release.