Meta plans up to $95B in stock sales to fund AI buildout; Nvidia, AMD and Broadcom weigh buying up to $5B
Meta is launching $35B of underwritten share offerings plus a $60B at-the-market program, one of the largest equity raises ever by a U.S. company, to pay for AI data centers.
Meta Platforms said on Monday it plans to raise up to $95 billion by selling new shares to finance its AI infrastructure spending. Chip suppliers Nvidia, AMD and Broadcom are in line to buy up to $5 billion of the stock as anchor investors.
| Item | Figure |
|---|---|
| Underwritten public offerings | $35B |
| At-the-market program | $60B |
| Anchor interest (Nvidia, AMD, Broadcom) | Up to $5B combined |
| 2026 capex outlook | Up to $145B (FT) |
How to read it: the at-the-market portion is sold gradually into the market, so dilution would arrive over time rather than all at once.
Why it matters: Until now the biggest AI spenders funded data centers mostly from cash flow and bonds. Turning to equity on this scale signals that AI capex is outgrowing even Meta’s cash generation; Meta told investors it will need “hundreds of billions of dollars” over several years. Chipmakers buying the stock of a major customer also ties supplier and buyer more closely together.
Market reaction: Meta shares fell about 1.7% in early trading, on top of a roughly 7% drop after last week’s earnings. See all Meta coverage at /en/topics/meta/.
What to watch next: Pricing of the underwritten offerings, and whether Microsoft, Alphabet and Amazon address funding plans in their earnings this week.
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