Meta weighs big equity raising to finance AI infrastructure, FT reports
· CNA · JoinRead a summary of this article on FAST.
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST Tap here to return to FAST
FAST
June 5 : Meta is considering raising tens of billions of dollars in a stock offering as it seeks new sources of capital to fund the company's AI ambitions, the Financial Times reported on Friday.
The report comes after Alphabet moved to raise $84.75 billion in upsized equity offerings, as Big Tech competes to build data centers and capitalize on growing demand for AI.
Meta shares were down 6.6 per cent following the report.
Executives at Meta have been exploring "creative" ways to raise cash as it prepares to sharply boost its AI-related capital expenditures to as much as $145 billion this year and even higher in 2027, the FT report said, citing three people familiar with the plans.
The company did not immediately respond to a Reuters request for comment.
Newsletter
Week in Review
Subscribe to our Chief Editor’s Week in Review
Our chief editor shares analysis and picks of the week's biggest news every Saturday.
Sign up for our newsletters
Get our pick of top stories and thought-provoking articles in your inbox
Get the CNA app
Stay updated with notifications for breaking news and our best stories
Get WhatsApp alerts
Join our channel for the top reads for the day on your preferred chat app