Meta plans to raise up to $95 billion by selling new shares, to pay for the data centres and chips behind its AI push. That is roughly two-thirds of the $135 billion to $145 billion it expects to spend on infrastructure this year.
The company set out the plan in a statement on Monday. It comes in two parts. First, about $35 billion of shares sold now through banks: $22.5 billion of ordinary Class A stock and $12.5 billion of “mandatory convertible preferred” shares, which pay investors a dividend and automatically turn into ordinary stock around August 2029. Second, a programme of about $60 billion in which Meta would sell shares gradually on the open market at the going price, known as an at-the-market offering.
That second part is not certain. Meta says it would start only once its planned non-voting Class C shares begin trading, and that it has not yet agreed the timing, size or terms.
Chip makers are buying in
Nvidia, AMD and Broadcom have told Meta they may buy up to $5 billion of the new Class A shares between them, at the same price as other investors. All three sell Meta the chips and hardware its AI runs on, so some of the money would come from suppliers investing in one of their biggest customers.
Why Meta needs the cash
Meta is not short of money. It generated $97 billion of operating cash in the first nine months of 2026 and held about $82 billion in cash and securities at the end of September. Third-quarter revenue was $64.6 billion, up 26%, with net income of $9.9 billion. But this year’s planned spending is bigger than the cash its business produced in those nine months, and Meta says it will fund it with a mix of cash, debt, partnerships and new shares. The money goes to four “superclusters” of over one gigawatt each, its Muse AI assistant, AI glasses and its consumer AI apps.
Selling new shares means each existing share owns a slightly smaller slice of the company. CNBC reported Meta’s stock was down 1.6% in morning trading after the news.
The plain reading
One of the world’s most profitable companies is asking stock market investors for help paying for AI. For anyone holding Meta, or the chip makers that sell to it, the number to watch is how much of the $60 billion programme Meta actually uses in 2027.
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