Meta seeks up to $95 billion in equity for AI investment

The plan combines about $35 billion in underwritten public equity offerings with a further $60 billion through an at-the-market program.[2][1] The at-the-market portion would consist of Class C non-voting shares, which Meta can sell in the open market from time to time.[1] Nvidia, AMD and Broadcom will act as cornerstone investors in the offering.[3] The stated total is a target of as much as $95 billion, rather than a reported amount already raised.[1]

Meta’s board approved a new class of publicly listed, non-voting Class C common stock.[4] Meta says the stock is intended to support capital raising, employee compensation, potential acquisitions and other corporate purposes.[4] The company says the class can help finance growth and support its position amid competition, while continuing its founder-led model.[4] Meta set January 19, 2027, as the intended effective date for establishing the class.[4] The planned at-the-market program is specifically described as using Class C shares.[1]

Meta says the fundraising will support investment in AI infrastructure and superintelligence.[2] It also points to emerging AI opportunities in its apps, AI agent Muse and data-center business.[2] The company says it plans to balance investment funding among operating cash flow, investment-grade debt, partnerships and equity capital.[2] Meta reported revenue of $64.60 billion, up 26% year over year, and negative free cash flow of $2.12 billion.[4] It expects full-year 2026 capital expenditures of $135 billion to $145 billion.[4]

Meta’s reported revenue of $64.60 billion exceeded analysts’ $63.37 billion expectation.[4][2] The available share-price snapshots point in different directions: Meta shares fell 7% on Thursday, while they rose 1.6% in premarket trading after the announcement.[2][3] The Irish Times reported that Meta would need to raise hundreds of billions of dollars over several years to fund its AI plans.[3] That longer-term figure is distinct from the current proposed raise of up to $95 billion.[1][3] The report is timestamped October 26, 2026.[1]