Meta Platforms launched public offerings of about $35 billion in common stock and convertible preferred stock on Monday to finance its costly AI infrastructure buildout, with plans for a further at-the-market program of up to $60 billion.
Meta Platforms launched public offerings totaling about $35 billion in common stock and convertible preferred stock on Monday as the company seeks to finance its rapidly expanding artificial intelligence infrastructure.
The Facebook and Instagram parent also outlined plans for a separate at-the-market share sale program of up to $60 billion once its new non-voting Class C shares begin trading, expected in the first quarter of 2027.
The move follows Meta’s earlier announcement of the Class C structure and an increase in its 2026 capital expenditure outlook to $135–145 billion, driven by data centers and computing capacity needed to compete with OpenAI and Anthropic. As of September 30 the company held $82.45 billion in cash and marketable securities against $80.92 billion in long-term debt, according to its latest quarterly filing.
Reuters reported the $35 billion offering size and the additional $60 billion ATM program, while prior coverage confirmed the Class C creation and the capex range. Meta has not published a full prospectus detailing every term of the new offering in the initial report, and independent confirmation of the precise allocation between common and preferred shares awaits the formal filing.
The financing underscores the scale of capital required for frontier AI systems. Meta has committed to roughly $825 billion in future spending primarily on data-center and related infrastructure. Investors will watch the pricing and reception of the offering and the start of Class C trading early next year for signals on how the market values the strategy.