Meta launches $35 billion stock offerings, plans $60 billion more

Meta said it has launched public offerings totaling about $35 billion and plans a separate share-sale program of up to $60 billion, a potential equity raise of as much as $95 billion to support its artificial intelligence and infrastructure expansion. The initial offerings comprise $22.5 billion in Class A common stock and $12.5 billion in depositary shares representing mandatory convertible preferred stock, according to the company. Meta said Nvidia, Advanced Micro Devices and Broadcom had expressed interest in buying up to $5 billion of its Class A shares. The proposed follow-on sale would involve new nonvoting Class C shares sold over time through an at-the-market program. Meta expects the shares to begin trading in early 2027, after which the sale could start. The company has not finalized the arrangement, including its terms and timing, so the $60 billion is a potential amount rather than completed fundraising. The financing would support Meta’s expansion of data centers, computing capacity and other infrastructure for AI. The company’s annual capital expenditure forecast is between $135 billion and $145 billion for this year, after it raised the lower end of its earlier...