International Edition · Mon 26 Oct 2026
Technology
Meta Hands Shareholders the AI Bill: $35 Billion Now, Up to $95 Billion in All
Meta launched about $35 billion of stock and convertible offerings to fund its AI build-out, with a further share-sale programme of up to $60 billion planned from early 2027.
Chanan Zevin - Chief Editor and Head of Desks
Published
The raise
Meta plans a $35 billion stock offering to power its AI build-out and eyes a $95 billion total plan. The package comprises $22.5 billion of Class A common stock and $12.5 billion of mandatory convertible preferred stock.
The rest
A separate at-the-market programme of up to $60 billion in non-voting Class C shares is expected to begin in early 2027. Meta's shares rose before the bell.
Background
Big tech has so far funded AI mostly from cash flow and bonds. Turning to equity on this scale means shareholders, not only lenders, now carry the cost of the build-out.
Our view
On the same day the market fretted about AI debt, Meta chose equity. That is the prudent choice for its balance sheet, and a dilutive one for its owners.