Meta announces $95bn fundraising drive to pay for AI expansion – business live
Summary
Meta plans to raise up to $95 billion to fund its AI expansion and core business. The fundraising includes a $35 billion stock offering and a planned $60 billion sale of new shares at market prices.Key Facts
- Meta says Nvidia, AMD and Broadcom have expressed interest in buying up to $5 billion of the stock in the $35 billion offering.
- Meta plans to sell new Class C shares through the $60 billion at-the-market offering.
- The Class C shares will not carry voting rights, according to the article.
- Meta says its AI investments have increased user engagement, improved advertising performance and boosted monetization.
- Meta is pursuing AI products including personal AI agents, enterprise tools and AI glasses.
- Internal forecasts cited in the article said Meta needs to raise hundreds of billions of dollars over several years for its AI plans.
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