Meta Platforms Inc. (META) plans to raise up to $95 billion in its largest-ever equity fundraising as the Facebook parent ramps up spending on artificial intelligence infrastructure.
The company launched public offerings worth about $35 billion in common and preferred stock and plans a separate at-the-market share sale program of up to $60 billion. The larger program is expected to begin after Meta's new nonvoting Class C shares start trading in the first quarter of 2027.
Nvidia, Advanced Micro Devices and Broadcom have expressed interest in investing up to a combined $5 billion in Meta's Class A shares. Meta shares fell about 1.4 percent in morning trading.
Meta has committed about $825 billion in future spending, largely for data centers, AI infrastructure and cloud computing. The company recorded negative free cash flow of $2.12 billion in the third quarter, compared with positive free cash flow of $10.63 billion a year earlier.
Meta recently raised the lower end of its 2026 capital expenditure forecast, putting the range at $135 billion to $145 billion.
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