Meta Raises Planned Equity Fundraising to $97.5 Billion

Meta Platforms said Tuesday it had increased its planned equity fundraising to $97.5 billion, up from an initial plan of as much as $95 billion, as it seeks to finance its artificial-intelligence expansion. The revised total includes a larger common-stock offering, while a separate share-sale program of up to $60 billion remains without finalized terms or timing. The company said it raised the common-stock portion from $22.5 billion to $25 billion. Together with preferred shares, the public offerings total about $35 billion. Meta also priced 250 million depositary shares at $50 each, according to its statement. The larger portion of the plan would be raised through an at-the-market program, which allows a company to sell shares gradually at prevailing market prices. Meta said the program would use nonvoting Class C shares and begin after those shares start trading, which it expects in the first quarter of 2027. The company has not set the sale’s terms or schedule. Meta initially announced the $95 billion plan on Monday, October 26, describing about $35 billion in public offerings and up to $60 billion through the at-the-market program. The proceeds are intended to support...