Meta Platforms plans to raise $95 billion through equity markets to finance its artificial intelligence (AI) expansion, with Nvidia, Advanced Micro Devices (AMD) and Broadcom expressing interest in purchasing up to $5 billion in shares as the technology industry races to secure computing infrastructure.
The proposed fundraising underscores the scale of capital required to compete in advanced AI as Meta expands its data centres, develops AI agents and pursues superintelligence capabilities while facing growing investor scrutiny over the cost and returns of its investments.
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The Facebook and Instagram owner said on Monday it would initially raise $35 billion through underwritten public equity offerings, followed by another $60 billion through an at-the-market programme, which allows a company to sell shares into the market over time.
Nvidia, AMD and Broadcom have indicated interest in purchasing up to $5 billion in shares, Meta said in a statement. The disclosure does not establish that the chipmakers have committed to the purchases.
The announcement comes as technology companies increase spending on computing power, data centres and electricity infrastructure to develop and deploy increasingly sophisticated AI systems.
Goldman Sachs estimates that AI-related capital expenditure could reach about $7.6 trillion between 2026 and 2031 across computing, data centres and power infrastructure, highlighting the financing demands confronting companies seeking to remain competitive.
Meta plans to use the investments to support emerging AI opportunities across its family of applications, its Muse AI agent and its data centre business. The company is also building four superclusters, each with more than one gigawatt of capacity, and expects to nearly double its total infrastructure capacity in 2026 compared with the previous year.
The fundraising follows a fresh increase in Meta’s capital expenditure outlook. The company now expects full-year spending of between $135 billion and $145 billion, raising the lower end of its previous forecast from $130 billion.
Although Meta reported third-quarter revenue of $64.60 billion, up 26 percent year on year and above analysts’ expectations of $63.37 billion, investors focused on its negative free cash flow and higher spending forecast.
Its shares fell following the results and were down a further 1.6 percent in morning trading on Monday after the fundraising announcement.
The proposed equity raise forms part of a broader financing strategy that Meta said would combine operating cash flow, investment-grade debt, partnerships and equity capital to support its investments.
Ben Wood, senior partner at CCS Insight said the fundraising reflected the exceptionally high investment required to keep pace in the AI race.
Meta’s move also comes amid a wider scramble for capital among technology companies expanding their AI infrastructure. Alphabet, Google’s parent company, said in June it would seek to raise $85 billion, while SpaceX has closed $40 billion in debt financing to purchase graphics processing units. Anthropic, the developer of Claude, is preparing for an initial public offering.
The scale of these financing plans reflects the growing importance of access to capital in determining how quickly companies can expand computing capacity and develop advanced AI products.
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For Meta, the challenge is to finance that expansion while convincing investors that the spending will generate sufficient returns. The company is increasing its infrastructure capacity while committing more capital to AI at a time when shareholders are already questioning the effect of those investments on cash generation.
The potential participation of Nvidia, AMD and Broadcom adds another dimension to the offering, bringing three major semiconductor companies into the conversation around Meta’s funding plans. However, the proposed share purchases remain an expression of interest rather than confirmed commitments.
As hyperscalers compete to build the infrastructure underpinning generative AI and superintelligence, Meta’s $95 billion plan highlights how the contest is becoming not only a race for technological breakthroughs but also a test of companies’ ability to mobilise vast amounts of capital without undermining investor confidence.
Royal Ibeh is a senior journalist with years of experience reporting on Nigeria’s technology and health sectors. She currently covers the Technology and Health beats for BusinessDay newspaper, where she writes in-depth stories on digital innovation, telecom infrastructure, healthcare systems, and public health policies.
