Meta is preparing a financing package worth as much as $95bn to accelerate artificial intelligence development, including its ambition to deliver personal superintelligence to users. The plan combines conventional stock offerings with a larger share-sale programme, giving the company additional funding capacity for computing infrastructure and future AI products.
According to Yahoo Finance, the proposal includes approximately $35bn in concurrent underwritten offerings and another potential $60bn through an at-the-market programme. The money would support data centres, computing capacity, custom chips and products designed to bring increasingly capable AI systems to consumers and businesses.
The $95bn financing plan
The initial financing consists of two components. Meta intends to issue $22.5bn of Class A common stock through forward-sale agreements, alongside approximately $12.5bn in depositary shares representing mandatory convertible preferred stock.
A separate programme would allow Meta to sell up to $60bn of newly introduced Class C common stock directly into the market. Trading in these shares is expected to begin during the first quarter of 2027. However, the programme has not yet been formally established, and Meta has not promised to sell the entire amount.
Nvidia, AMD and Broadcom have indicated non-binding interest in acquiring up to $5bn combined of the Class A shares. Their potential purchases would follow the same conditions offered to public investors.
Funding personal superintelligence
Meta intends to direct the proceeds towards broad corporate requirements, with AI development among its priorities. Planned investments include large-scale data centres, additional computing resources and custom silicon, the specialised chips used to run AI workloads.
The product ambitions extend beyond infrastructure. Meta identifies consumer and business AI agents, enterprise services and AI-powered glasses among its development priorities. Personal superintelligence is another central objective, reflecting the company's effort to build advanced AI capabilities for individual users.
Chief executive Mark Zuckerberg connected the company's recent progress to this ambition. He highlighted the launch of Muse and Muse Wonder, describing them as Meta's first frontier model. He also said the company's investments were producing results while its core business remained strong.
Spending meets strong revenue
The fundraising comes as Meta dramatically increases its infrastructure spending. The company expects its 2026 capital expenditure to reach between $135bn and $145bn, covering investments required to expand its AI capabilities.
Its financial position provides important context. During the first nine months of 2026, Meta generated $96.9bn in operating cash flow. At the end of September, it held $82.5bn in cash, cash equivalents and marketable securities.
Revenue also increased by 26% year over year, reaching $64.6bn in the third quarter. Yet infrastructure spending is already substantial: quarterly capital expenditure totalled $34.9bn, while free cash flow turned negative at $2.1bn.
Other technology financing deals
Meta's proposal follows a major equity financing move by Alphabet, which raised $80bn in June using a combination of underwritten offerings and an ATM programme.
Another financing structure emerged through SpaceX, which agreed to an approximately $40bn master finance lease with an entity managed by Apollo Global Management. Under that arrangement, the Apollo-managed entity will purchase GPU computing equipment and related infrastructure, then lease it to SpaceX for deployment at data centres selected by the company.
Why it matters
Meta's proposed financing illustrates the enormous financial requirements behind its personal superintelligence ambitions. Building advanced AI products requires more than developing models: companies also need computing hardware, specialised chips and data centres capable of supporting increasingly demanding workloads.
The scale of Meta's planned spending, alongside its substantial revenue and cash generation, shows why the company is pursuing additional capital even while its core advertising business continues to grow. The negative free cash flow recorded in the third quarter also highlights the financial pressure created by its investment programme.
The next milestones are the establishment of the proposed Class C share-sale programme, the expected start of trading in early 2027 and the extent to which Meta ultimately uses the available $60bn capacity. Those decisions will help clarify how aggressively the company intends to finance its infrastructure expansion and personal superintelligence development.