Meta plans to raise up to $95 billion in equity to fund AI and data centre expansion
Meta Platforms will raise up to $95 billion in equity to build the data centres and cloud capacity behind its artificial intelligence push, the company said, opening with a $35 billion tranche of concurrent underwritten public offerings.
The first stage pairs 250 million Series A depositary shares, representing interests in newly issued Series A Mandatory Convertible Preferred Stock worth about $12.5 billion, with $22.5 billion of Class A common stock sold through forward sale agreements. A further at-the-market offering of roughly $60 billion is planned once Meta's proposed Class C common stock begins trading, taking the total to $95 billion.
The fundraising underwrites a capital expenditure bill Meta expects to reach $135 billion to $145 billion in 2026. "AI is creating significant opportunities for Meta across its core business and new products and services," the company said. Meta said its AI investments are already generating tangible returns through increased engagement, improved advertising performance and increased monetization, and that it is expanding data capacity to bring personal superintelligence to users globally.
Meta reported $97 billion in operating cash flow across the first nine months of 2026 and held $82 billion in cash and marketable securities at the close of the third quarter. Revenue rose 26 per cent year on year to $64.6 billion, with net income of $9.9 billion. The company said it will fund the outlays through operating cash flow, investment-grade debt, strategic tie-ups and equity markets.
The move follows a run of AI and infrastructure deals. In October Meta introduced its Muse Wonder and Muse Wonder Full models, which chief executive Mark Zuckerberg said on X were a major leap towards delivering personal superintelligence for everyone. Meta reported 3.64 billion daily users across its family of apps as of September 2026 and said the Muse platform drew more than 10 million users across the United States and Canada during its rollout. It maintains data facilities in 23 American states and is building four gigawatt-scale superclusters to nearly double computing capacity over the year. In July it secured $14 billion alongside BlackRock for a data centre complex in El Paso, Texas, where BlackRock-managed funds hold an 80 per cent interest and Meta 20 per cent under a shared cost commitment.
