Meta plans up to $95B equity raise to fund AI infrastructure

Meta's raise is among the largest equity programs in tech history and a sign that even cash-rich hyperscalers now need outside capital for AI buildouts. The $35B first tranche splits into $22.5B common and $12.5B convertible preferred.

The remaining $60B at-the-market program depends on creating non-voting Class C shares, expected to begin trading in Q1 2027 — a structure that preserves Mark Zuckerberg's control. Chip suppliers Nvidia, AMD and Broadcom signaled interest in a combined $5B, a circular financing pattern increasingly common in AI.

It fits the week's compute-finance theme alongside Anthropic's S-1 losses and the SpaceX/xAI $40B GPU lease.

On r/technology, users questioned dilution via non-voting shares and capex forecasts of $145B+. Watch shareholder reaction and Meta's earnings commentary.