Meta to raise $95 billion to support investments in AI
With the company's capital expenditures reaching an all-time high, Meta plans to raise $95 billion in support of its ongoing investments in artificial intelligence models, products, infrastructure, and the development of superintelligence, reports Media Daily News.
According to a statement issued by Meta, potential early investors include Nvidia, Advanced Micro Devices, and Broadcom, which have expressed interest in purchasing up to $5 billion in shares.
Meta will raise, states Media Daily News, "approximately $35 billion in underwritten public offerings, consisting of $22.5 billion of Class A common stock and $12.5 billion in depositary shares. The company then plans on raising $60 billion with an at-the-market program.
"The company aims to raise more money to “expand the infrastructure and compute capacity” in support of “new opportunities across personal superintelligence, consumer and business agents, enterprise products, and AI glasses.”"
