- Meta plans to raise $95 billion in total, starting with $35 billion in underwritten public equity offerings and then $60 billion through an at-the-market program.
- Meta will balance the funding through operating cash flow, investment-grade debt, partnerships and equity capital.
- The raise follows Q3 results with revenue up 26% year-on-year to $64.60 billion, but investors focused on negative free cash flow and a higher full-year capex forecast.
- Meta raised the bottom of its full-year capex range to $135 billion from $130 billion, and shares fell on the day after the Q3 report.
- Shares rose 1.6% in premarket trading after the offering announcement.
- Separately, Anthropic is planning to file publicly for an IPO on Monday at around 9 a.m. in New York, according to people familiar with the matter.
Quotes
“Meta is planning to raise a total of $95 billion to support its investments in AI infrastructure and superintelligence.”
“emerging AI opportunities”