Meta weighs US$20 billion bond sale to fund AI push

Meta Platforms is considering raising at least US$20 billion through a potential cross-border investment-grade bond offering, as it gauges investor interest amid growing skepticism about its artificial intelligence spending pace. No final decision has been made, and the size may grow based on demand. The company has asked Citigroup and Morgan Stanley to hold investor calls on Nov 2 and Nov 3, marking Meta's first major debt sale in six months and its debut euro offering, following rivals Alphabet and Amazon in diversifying funding across currencies. The dollar bond sale would span maturities of five to 30 years, while the euro offering would range from just over four to just over 38 years. Tech giants have flooded markets with hundreds of billions in borrowing since 2025 to fund data centers and chips, with default protection costs hitting record highs. Meta last raised US$25 billion in April, but appetite for AI-related offerings has since faded, prompting higher yields from issuers like Alphabet and Oracle. Meta is also staging one of the largest equity offerings in history, including a US$25 billion common stock sale and plans to raise up to US$60 billion through an at-the-market share programme.