AI
Meta turns to its largest-ever equity raise to pay for AI infrastructure
Meta is seeking up to $95bn of new equity to fund data centres, cloud capacity and other AI infrastructure. The first phase is about $35bn, split between $22.5bn of Class A common stock and roughly $12.5bn of mandatory convertible preferred shares sold through forward-sale agreements. The stock fell 1.9 per cent on the day. The offering moves part of a very large capital programme onto shareholders rather than debt or operating cash flow.