Meta unveils $95 billion equity raise to fund AI infrastructure
Meta Platforms said on 26 October that it will raise $95 billion in equity, splitting the financing between a $35 billion underwritten offering and a $60 billion at-the-market sale of new non-voting Class C shares, to fund its artificial-intelligence infrastructure. Reuters reported that the company had posted third-quarter results on 14 October, with earnings of $3. 56 per share on $63.
3 billion revenue and strong adoption of its Muse AI assistant. The firm also announced a new class of non-voting shares that would let CEO Mark Zuckerberg sell a portion to cover a possible California wealth-tax bill while preserving his voting control and committing to stay in the state for eight years. Business Insider noted that the AI expansion entails high compute expenses and uncertain financial returns.