Meta Seeks Up to $95 Billion in Equity Financing to Support AI Spending

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Meta is seeking to raise up to $95 billion by selling common and preferred stock to support its bid for a leading position in the race to develop artificial intelligence.

The company said in a statement on Monday that it will issue about $35 billion of common and preferred stock. In addition, Meta will raise up to about $60 billion through an at-the-market (ATM) offering program. Such programs allow companies to sell shares in the public market from time to time, and Meta plans to sell non-voting Class C shares through this program.

Meta shares fell at one point in premarket trading in New York on Monday, then reversed to gain 1.2% to $650 per share. As of Friday's close, the stock had fallen 2.7% this year.

The company has already launched a personal AI agent called Muse, as well as an AI model called Muse Wonder. Meta management said that in tasks such as coding, Muse Wonder's performance is comparable to OpenAI's ChatGPT and Anthropic's Claude.

Recommended reading: Meta releases new model Muse Wonder, executives say performance ranks at the industry's forefront '' news_keyword_pub,usstock, iframe below the main text iframe below the main text General statement General statement QR code at the end start QR code at the end start

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