Meta Is Raising $35 Billion in Stock — and Plans Up to $95 Billion

Meta Platforms launched about $35 billion in stock offerings on Monday, October 26, 2026, and said it could raise up to $95 billion in total to fund its artificial-intelligence buildout — one of the largest equity financing plans ever announced by a technology company. The Facebook parent split the immediate raise between common stock and mandatory convertible preferred shares, with a much larger at-the-market program planned for 2027.

What happened

Meta said it will launch roughly $35 billion in public offerings, made up of about $22.5 billion of Class A common stock and about $12.5 billion of depositary shares representing mandatory convertible preferred stock, according to Dow Jones reporting via Morningstar and Reuters. On top of that, Meta plans a separate at-the-market stock offering program of up to $60 billion, potentially beginning in the first quarter of 2027 after its new non-voting Class C shares begin trading. Add the two together and the full plan reaches about $95 billion.

The stated purpose is direct: pay for AI infrastructure and what Meta calls personal superintelligence — the data centers, computing capacity and AI products it is building to compete with rivals including OpenAI and Anthropic, which itself filed for a public listing on Monday.

Why it is blowing up

Three things made this the market story of the morning. First, the size: a $35 billion immediate raise, with $60 billion more lined up, is financing on a scale usually associated with governments or mega-mergers. Second, the buyers: Nvidia, AMD and Broadcom have expressed interest in buying up to $5 billion of the Class A stock, Reuters reported — the suppliers funding the customer that buys their chips. Third, the reaction: Stocktwits said Meta was its top-trending ticker Monday morning, up more than 2% pre-market with extremely bullish retail sentiment, though Barron's later put the stock down about 0.8% in the session as investors weighed dilution against growth.

The numbers behind the raise

Meta's spending explains why it needs the money. The company now expects capital expenditure of between $135 billion and $145 billion this year, after raising the lower end of that range last week from $130 billion. According to its quarterly filing, Meta held $82.45 billion in cash, cash equivalents and marketable securities as of September 30, slightly above its long-term debt of $80.92 billion, and it has committed to spend about $825 billion in the future, primarily on data centers, AI infrastructure and cloud computing power.

The cost is already showing in its cash flow. Reuters reported Meta burned $2.12 billion in cash in the third quarter — its first negative free cash flow in more than ten years, compared with positive cash flow of $10.63 billion a year earlier. The business itself is still growing: third-quarter revenue was $64.60 billion, ahead of Wall Street estimates of $63.37 billion, and Meta projected fourth-quarter revenue between $73 billion and $76 billion.

What markets are debating

The argument is about returns. A company that once printed free cash flow is now issuing tens of billions in new shares, diluting existing holders, to fund data centers whose payoff depends on AI products still being built. Supporters point to revenue beating estimates; skeptics point to the cash burn, the $825 billion in future commitments, and a capex bill that keeps climbing. Monday's split reaction captured both sides in one session.

What is next

Watch three things: the pricing of the $35 billion offering and how much of the indicated $5 billion Nvidia, AMD and Broadcom actually buy; whether the $60 billion at-the-market program is finalized for early 2027; and Meta's next capex update. This post reports what happened and how markets reacted; it is not a recommendation to buy, sell or hold any security.

Sources

FAQ

How much is Meta raising in its stock offering?

Meta launched about $35 billion in offerings on October 26, 2026 — roughly $22.5 billion of Class A common stock and $12.5 billion of mandatory convertible preferred depositary shares — and plans up to $60 billion more in 2027, for about $95 billion in total.

Why does Meta need to raise $95 billion?

To fund its AI expansion: data centers, computing capacity and AI products. Meta expects capital expenditure of $135 billion to $145 billion this year and has committed about $825 billion to future spending, mostly AI infrastructure.

Which companies want to buy Meta stock in the offering?

Chip companies Nvidia, Advanced Micro Devices and Broadcom have expressed interest in purchasing up to $5 billion of Meta's Class A common stock in aggregate, on the same terms as other investors.

How did Meta stock react?

Meta gained more than 2% in pre-market trading and was Stocktwits' top-trending ticker Monday morning, then slipped about 0.8% in the session covered by Barron's as investors weighed dilution against growth.

Meta Is Raising $35 Billion in Stock — and Plans Up to $95 Billion — to Pay for Its AI Buildout