Meta Plans to Raise Up To $95 Billion for AI Through Equity Sales

Meta Platforms announced plans to seek as much as $95 billion of capital through equity sales, adding to already huge fundraising plans by AI companies to fuel the data center boom.

The plans include about $35 billion of underwritten public offerings, of which about $22.5 billion will be through sales of its Class A shares and about $12.5 billion through depositary shares representing preferred stock, the company said in an announcement Monday. The remaining $60 billion is to come through at-the-market stock sales that it plans to make after the start of trading of new Class C shares.

Meta last week announced plans to create the nonvoting Class C shares as a way to enable the company to raise capital without diluting the voting control of Chief Executive Mark Zuckerberg. Meta currently has Class A shares with one vote each and Class B shares with 10 votes each, which are predominantly held by Zuckerberg-controlled entities.

The new capital will support Meta’s investment in infrastructure and compute capacity supporting Meta’s AI business, it said.

Nvidia, Advanced Micro Devices and Broadcom have indicated interest in purchasing up to an aggregate of $5 billion of Meta’s shares in the Class A sale at the same price as other purchasers, Meta’s announcement said.