Meta upsizes equity offering as it seeks almost US$98 bil

Meta announced equity offerings that could raise up to $97.5 billion, saying the proceeds would support investment in artificial intelligence infrastructure and personal superintelligence.

• Meta sold $12.5 billion of preferred shares at $50 each and $25 billion of common stock at $625 per share; the common-stock offering had been increased from $22.5 billion.· 1 source
• The company also planned an at-the-market programme of up to about $60 billion involving planned Class C nonvoting shares.· 1 source
• Meta said it intended to use the proceeds for AI infrastructure and personal superintelligence; its shares were down 1.7% at $631.51 in New York at 9:53 a.m.· 1 source