MENLO PARK, CALIFORNIA / RankWire.AI / – Meta said on Monday, October 26, that it plans to raise a total of $95 billion to support its investments in artificial intelligence infrastructure and superintelligence. The company will first raise $35 billion through underwritten public equity offerings. It then plans to raise another $60 billion through an at-the-market program. Meta shares fell 1.6% in morning trading after the announcement. Nvidia, Advanced Micro Devices and Broadcom were interested in buying up to $5 billion in shares, Meta said.
The at-the-market program could begin in the first quarter of 2027, according to reports. Meta said the program has not yet been established and its final timing and terms remain undetermined. The company also announced the creation of a new Class C stock. That structure allows Meta to sell shares without diluting Chief Executive Mark Zuckerberg’s control of the company. Meta will balance funding through operating cash flow, investment-grade debt, partnerships and equity capital.
Meta said the planned investments will support emerging AI opportunities. These include its family of apps, its AI agent Muse and its data center business. The company recently paused chat sharing in Muse after researchers found shared links exposed through public records. Meta is building four superclusters, each with more than 1 gigawatt of capacity. It is on track to nearly double its total infrastructure capacity in 2026 compared with the previous year.
Spending forecast lifted after earnings
Meta reported third-quarter results last week showing revenue up 26% year on year to $64.60 billion. Analysts had expected $63.37 billion. Investors, however, focused on the company’s negative free cash flow and higher spending forecast. Free cash flow was negative $2.12 billion in the quarter as capital expenditures reached $34.91 billion. Meta shares fell on Thursday after the results were released. Revenue beat estimates, but spending concerns dominated the reaction.
Meta now expects full-year capital expenditure of $135 billion to $145 billion. That raised the bottom of the range from $130 billion. Hyperscalers are pouring record sums into the AI infrastructure build-out. Like its peers, Meta is increasingly turning to debt and equity markets to fund costly AI infrastructure. Goldman Sachs estimates that AI-related capital spending could total about $7.6 trillion from 2026 through 2031. That figure covers compute, data centers and power.
Tech giants race to raise capital
Ben Wood, senior partner at CCS Insight, told CNBC the move reflects the eye-watering levels of investment needed to keep up in the AI arms race. Wood noted that several companies, including Google, SpaceX and Anthropic, are going to the markets to raise funds. Alphabet, Google’s parent company, said in June that it would look to raise $85 billion. SpaceX has closed a $40 billion debt financing to buy graphics processing units.
Anthropic is preparing for an initial public offering after filing on Monday. The same day, banks and Blackstone lined up $63 billion to finance Broadcom AI chips for Anthropic. TikTok U.S. is also seeking to secure multiple gigawatts of computing capacity over the coming years, CNBC reported on Friday. Meta is among several hyperscalers tapping capital markets to fund the next phase of AI growth.