Meta plans record $95 billion raise for AI expansion

Meta Platforms announced Monday it plans to raise up to $95 billion in its largest-ever equity fundraising, launching public offerings of about $35 billion in stock and a separate share sale program of up to $60 billion to fund its AI infrastructure expansion. The company will initiate the larger at-the-market share sale after its new non-voting Class C shares begin trading, expected in the first quarter of 2027, though timing and terms are not yet finalized. Meta reported a $2.12 billion cash burn in the third quarter, its first negative free cash flow in over a decade, as it commits to about $825 billion in future spending on data centers and AI-related infrastructure. The fundraising highlights a broader trend of tech giants tapping equity and debt markets for AI investments, with Alphabet earlier increasing its offerings to $84.75 billion. Meta's shares fell about 1.4% in morning trading, while analysts noted the move reinforces confidence in long-term AI returns despite the capital-intensive path.