Meta Platforms on Monday launched public offerings of about $35 billion in common stock and convertible preferred stock, and said it plans to raise a total of $95 billion to support its investments in AI infrastructure and superintelligence, CNBC reported.
According to CNBC, Meta will initially raise $35 billion in underwritten public equity offerings before raising an additional $60 billion through an at-the-market program. Neither of Monday’s preliminary prospectus supplements describes the at-the-market program.
What the filings say
Meta filed two preliminary prospectus supplements with the SEC early Monday. One covers $22.5 billion of Class A common stock sold through forward sale agreements with Morgan Stanley and Goldman Sachs affiliates. Meta says it does not expect to initially receive proceeds from that sale and expects the forwards to settle on or before Nov. 19, 2027.
The second filing covers 250 million depositary shares, each representing a 1/20th interest in a share of Series A Mandatory Convertible Preferred Stock with a $50 liquidation preference per depositary share, or about $12.5 billion. The shares convert into common stock in 2029. The dividend rate and pricing were left blank in the preliminary filings.
Morgan Stanley and Goldman Sachs are the representatives of the underwriters on both deals. Both filings say Meta intends to use net proceeds “for general corporate purposes.” The common stock filing says Nvidia, Advanced Micro Devices and Broadcom “have, severally and not jointly, indicated an interest” in buying up to $5 billion of the shares.
Meta’s AI spending
Meta told investors the money will support “emerging AI opportunities,” including its family of apps, its AI agent Muse and its data center business, according to CNBC. The company said it is building four “superclusters” with more than one gigawatt of capacity each.
The raise follows Meta’s third-quarter report last week, when it set 2026 capital spending at $135 billion to $145 billion and outlined the non-voting Class C shares, as AI Tech Daily reported. Meta shares rose 1.6% in premarket trading after the announcement, CNBC said.
Sources
- CNBC (Kai Nicol-Schwarz, April Roach): Meta announces $95 billion stock offering to fund AI expansion (October 26, 2026)
- Meta Platforms 424B5 preliminary prospectus supplement, Class A common stock (October 26, 2026)
- Meta Platforms 424B5 preliminary prospectus supplement, Series A mandatory convertible preferred (October 26, 2026)