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A separate share-sale program could add up to $60 billion, but it depends on new non-voting shares beginning to trade, expected in early 2027.
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Meta's financing plan pairs an immediate $35 billion stock-and-convertible-preferred offering with a separate at-the-market program of up to $60 billion, bringing potential proceeds to $95 billion. The larger program depends on non-voting Class C shares beginning to trade, currently expected in the first quarter of 2027, so that money has not been secured. The plan shows how Meta intends to fund AI computing capacity alongside its existing cash and debt, amid roughly $825 billion in reported spending commitments.
The current offering comprises $22.5 billion in Class A common stock and $12.5 billion in depositary shares representing mandatory convertible preferred stock.
As of September 30, Meta reported $82.45 billion in cash, cash equivalents and marketable securities, alongside $80.92 billion in long-term debt.
The reported $825 billion in spending commitments includes cloud computing capacity as well as data centers and other AI infrastructure.
Meta launched roughly $35 billion in public stock offerings on October 26 to help finance its AI expansion. A second, planned share-sale program takes the potential total to $95 billion. That headline figure is a fundraising ambition, not money already secured—and the larger portion depends on a share-trading milestone expected next year.
The financing is intended to support Meta's investments in AI infrastructure and what it calls personal superintelligence. The company is increasing spending on data centers, computing capacity and AI products as it competes with OpenAI and Anthropic.
The roughly $35 billion public offering is itself split between two types of securities. The Wall Street Journal reported the following breakdown, with Class A common stock accounting for the larger share:
The separate at-the-market share-sale program would allow for up to $60 billion more. Meta plans to launch that program after its new non-voting Class C shares begin trading, which is expected in the first quarter of 2027, according to CNBC.
Meta reported $82.45 billion in cash, cash equivalents and marketable securities as of September 30.
Meta reported $80.92 billion in long-term debt on the same date.
The planned fundraising comes against a much larger set of future obligations. Meta has committed to spend about $825 billion, primarily driven by investment in data centers, AI-related infrastructure and cloud computing power, CNBC reported.
Those commitments cover more than building physical facilities: they also include the computing power Meta expects to obtain through cloud services. The financing announcement therefore supports both infrastructure investment and access to computing capacity, rather than a single data-center project.
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