Meta announces $95 billion stock offering plan to fund AI expansion

Meta announced plans to raise a total of $95 billion to support AI infrastructure and superintelligence investments. The company will first raise $35 billion through an underwritten public stock offering, then an additional $60 billion through an at-the-market program; Meta said Nvidia, AMD and Broadcom intend to subscribe for up to $5 billion in shares; after the announcement, its stock fell 1.6% in early trading. The funds will support "emerging AI opportunities" including its family of apps, the AI agent Muse and its data center business. Meta also raised its full-year capital expenditure forecast to $135 billion to $145 billion, is building four "superclusters" each with capacity exceeding 1GW, and said it expects to nearly double total infrastructure capacity year over year in 2026. Alphabet said in June that it planned to raise $85 billion, SpaceX has completed $40 billion in debt financing to purchase GPUs, and Anthropic is preparing an IPO.