Meta Plans Up to $95 Billion Equity Raise to Fund AI Infrastructure, Shares Fall 1.4%

Meta Platforms Inc. (META) plans to raise up to $95 billion in its largest-ever equity fundraising, launching about $35 billion in public offerings of common and preferred stock alongside a separate at-the-market share sale program of up to $60 billion. The larger program is expected to begin after Meta's new nonvoting Class C shares start trading in the first quarter of 2027. Nvidia, Advanced Micro Devices and Broadcom have expressed interest in investing up to a combined $5 billion in Meta's Class A shares. Meta shares fell about 1.4 percent in morning trading. Meta has committed about $825 billion in future spending, largely for data centers, AI infrastructure and cloud computing. The company recorded negative free cash flow of $2.12 billion in the third quarter, compared with positive free cash flow of $10.63 billion a year earlier, and recently raised the lower end of its 2026 capital expenditure forecast to a range of $135 billion to $145 billion.