Meta announces $95 billion stock offering to fund AI infrastructure and superintelligence

• Meta is planning to raise a total of $95 billion to support investments in artificial intelligence infrastructure and superintelligence.
• Nvidia, AMD, and Broadcom expressed interest in purchasing up to $5 billion in shares, according to a company statement.
• The funding will support emerging AI opportunities including Meta's app family, its AI agent Muse, and its data center business.
• Meta expects full-year capital expenditure to range from $135 billion to $145 billion, with the bottom of the range raised from $130 billion.

Funding Structure and Market Context

• The $95 billion raise consists of an initial $35 billion in underwritten public equity offerings followed by an additional $60 billion through an at-the-market program.
• Goldman Sachs estimates AI-related capital spending could total approximately $7.6 trillion from 2026 through 2031 across compute, data centers, and power.
• Meta's stock was down 1.6% in morning trading following the announcement.

Infrastructure and Financial Performance

• Meta is building four superclusters with more than 1 gigawatt of capacity each and aims to nearly double total infrastructure capacity in 2026.
• The company reported third-quarter revenue of $64.60 billion, a 26% year-on-year increase, though investors focused on negative free cash flow and higher capex forecasts.
• Meta intends to balance funding through operating cash flow, investment-grade debt, partnerships, and equity capital.