Meta plans up to $95 billion equity raise to fund its AI buildout

Meta Platforms said Monday it plans to raise up to $95 billion by selling stock. It is the largest equity fundraising in the company’s history. The plan has two parts. Meta has launched public offerings worth about $35 billion in common and preferred stock. It also plans a separate at-the-market share sale program worth up to $60 billion. How the $95 billion breaks down The first piece is the traditional route. Meta launched roughly $35 billion in public offerings, split between common shares and convertible preferred stock. Convertible preferred stock is a hybrid. Buyers get a security that sits above common shares in priority and can later convert into ordinary equity. The second piece is less flashy but potentially bigger. An at-the-market, or ATM, program lets a company drip new shares into the open market over time instead of selling a giant block all at once. According to the research findings, that up to $60 billion ATM program is tied to a new class of stock. Meta plans to introduce non-voting Class C common shares, with the program expected to follow in the first quarter of 2027. Those Class C shares are set to be distributed in January 2027. The structure effectively work...