Meta Platforms launched two financing operations totaling approximately $35 billion, primarily to support its artificial intelligence infrastructure investments. The first involves offering 250 million depositary shares linked to Series A preferred stock at $50 each, totaling about $12.5 billion, with mandatory conversion into Class A common shares around August 15, 2029. The second covers $22.5 billion of Class A common shares sold through forward sale agreements, with Morgan Stanley and Goldman Sachs leading the underwriting. Meta’s projected artificial intelligence infrastructure spending for 2026 stands at $135 billion to $145 billion, meaning the current financing covers about one quarter of that amount. The company is also considering a potential $60 billion Class C share offering for the first quarter of 2027, which could bring its total equity financing program to nearly $95 billion while staggering shareholder dilution.
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