Meta looks to raise up to $95 billion from stock sales to fund its huge AI build-out
Meta is seeking more cash as it spends heavily on AI infrastructure, data centers, and computing power as it develops consumer AI products.
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Meta is looking to raise up to $95 billion from selling stock to fund its massive AI buildout.
The tech giant said in a Monday filing that it has launched about $35 billion in equity offerings and plans to secure up to $60 billion from an at-the-market program of new nonvoting Class C shares.
The $35 billion includes $22.5 billion in Class A stock and roughly $12.5 billion in mandatory-convertible preferred shares.
Meta is spending heavily on AI infrastructure as it develops consumer AI products and pursues Mark Zuckerberg’s goal of "personal superintelligence."
This is a developing story. Check back for updates.
Read the original article on Business Insider