Meta Platforms has announced plans to raise up to $95 billion through a stock sale, marking the largest equity fundraising in the company's history. The initiative consists of two components: a $35 billion public offering of common and convertible preferred stock, and an at-the-market program valued at up to $60 billion.
The at-the-market program, scheduled to begin in the first quarter of 2027, involves the issuance of non-voting Class C common shares. These shares are set for distribution in January 2027, functioning similarly to a two-for-one stock split. This structure allows the company to raise capital without diluting the voting power of Mark Zuckerberg.
The capital raise supports a significant increase in infrastructure spending. Meta has revised its 2026 capital expenditure forecast to between $135 billion and $145 billion, with future investment commitments for AI infrastructure estimated at approximately $825 billion.
Financial results for the third quarter show revenue of $64.6 billion, exceeding estimates by $1.23 billion. During the same period, capital expenditures reached $34.9 billion. Additionally, the company reported that its AI agent, Muse, reached 10 million users in the US and Canada within six weeks.
