Meta raises up to $95 billion in two stock offerings for AI expansion

Meta announced plans to raise up to $95 billion through two stock offerings to fund its artificial intelligence infrastructure expansion, while preserving CEO Mark Zuckerberg's voting control. Chipmakers Nvidia, AMD, and Broadcom are interested in buying shares. The plan includes a $35 billion public offering of common and preferred stock, plus a $60 billion at-the-market sale program tied to new non-voting Class C shares expected to trade in early 2027. The chipmakers collectively seek up to $5 billion in voting Class A shares, raising concerns about circular capital flows in the AI sector. Meta has committed to roughly $825 billion in future expenditures for data centers and server clusters, competing with OpenAI and Anthropic. The move reflects a broader industry trend, with Alphabet expanding equity offerings to $84.75 billion and SpaceX securing $40 billion in equipment leasing from Apollo Global Management.