Meta, the parent company of Facebook, has announced plans for an additional stock offering worth up to $60 billion, although the launch date has not yet been finalized.
The move comes days after the company introduced a new class of non-voting shares, aimed at providing greater flexibility in raising funds as it expands its artificial intelligence (AI) operations.
Major chipmakers Nvidia, AMD and Broadcom have expressed interest in purchasing up to $5 billion worth of the common stock being offered, according to Meta. However, these indications of interest are non-binding.
Meta has been investing heavily in developing its AI infrastructure and capabilities, while investors are closely monitoring whether these expenditures will deliver meaningful returns.
The newly introduced shares carry no voting rights, allowing Meta to raise additional capital without reducing the voting control held by its founder and Chief Executive Officer, Mark Zuckerberg.
Meanwhile, Alphabet, Google’s parent company, recently raised $85 billion through equity offerings to finance the expansion of its own AI data centre infrastructure.
