Meta plans a $95 billion equity raise to fund AI growth

A $35 billion stock offering starts now, and a $60 billion at-the-market program is planned for later.

On October 26, 2026, Meta announced a financing plan worth about $95 billion to support its AI infrastructure and what it calls personal superintelligence. About $35 billion comes from underwritten offerings launched today. A further $60 billion at-the-market program is planned for later and has no agreed terms yet.

Key facts

Meta announced on October 26, 2026 a financing plan of about $95 billion, tied to AI infrastructure and “personal superintelligence”.
The first step is about $35 billion of underwritten public offerings: roughly $22.5 billion of Class A common stock and roughly $12.5 billion of depositary shares representing Series A Mandatory Convertible Preferred Stock.
The second step is a planned at-the-market (ATM) program of about $60 billion, to launch after Meta’s previously announced Class C common stock begins trading. Meta says no agreement exists yet and timing, size and terms are not set.
Meta expects $135 to $145 billion of capital expenditures in 2026.
Nvidia, AMD and Broadcom expressed interest in buying up to $5 billion of shares, according to CNBC’s report of Meta’s statement.

What happened

Meta Platforms announced the launch of two concurrent public offerings. One is made of 250 million depositary shares, each representing a 1/20th interest in a new Series A Mandatory Convertible Preferred Stock. The other is $22.5 billion of Class A common stock, offered in connection with forward sale agreements with Morgan Stanley Capital Services and Goldman Sachs. Meta says it does not expect to receive proceeds from the forward sales at the start, and plans to use the money it receives when those agreements settle for general corporate purposes.

Together these make up about $35 billion. Meta describes them as the first part of a financing plan that also includes the future ATM program of about $60 billion. Meta stresses there is no assurance the ATM program will be set up on the terms described, or at all.

In its announcement Meta says it will keep funding its investments through a mix of operating cash flow, investment grade debt, strategic partnerships and equity. It reports $97 billion of operating cash flow in the first three quarters of 2026 and about $82 billion in cash and marketable securities at the end of the third quarter. Third quarter revenue was $64.6 billion, up 26% year over year, with net income of $9.9 billion.

Meta also shared product numbers. It says its Muse assistant onboarded more than 10 million users in the U.S. and Canada in the early weeks, and that more than 2 million businesses use its Business Agent each week. It is building four superclusters of more than one gigawatt each.

Why it matters

Training and running AI systems takes enormous amounts of computing power, and that has to be paid for. Meta joins a growing list of large companies turning to the markets for AI funding. CNBC notes that Alphabet, SpaceX and, soon, Anthropic are doing something similar, and quotes an analyst at CCS Insight who says the move reflects the very high levels of investment needed to keep up.

For everyday users and small teams, the direct effect is indirect but real. More data center capacity can mean faster and more capable assistants, including Meta’s Muse and the business tools inside WhatsApp, Instagram and Facebook. It does not change prices or features today, and Meta has not announced any.

This article reports what the company and the press have published. It is not investment advice, and nothing here says whether the offering is a good or bad idea for any investor. Large financial announcements use specialist terms, so it helps to have them explained plainly.

How to try it

Financial filings are full of words like “depositary shares”, “mandatory convertible” and “forward sale agreement”. The free “Explain Simply” prompt helps you turn dense text into something you can follow.

1. Open the prompt and copy it into ChatGPT, Claude or Gemini. 2. In the brackets, paste a short passage you want explained, for example the Financing Plan paragraph from the announcement. 3. Say who you are and what you already know, for example “I follow tech news but not finance”. 4. Ask for a short explanation, then one example in everyday words.

Example request: “Explain this paragraph about an at-the-market program as if I have never read a financial filing. Use three short sentences and one everyday comparison.”

What to check in the answer: whether it keeps the numbers exactly as written, and whether it separates what is confirmed from what is only planned. If the answer adds a figure that is not in your text, ask it to remove it. Always read the original source for decisions that involve money.

Try it

Explain a topic simply

Frequently asked questions

Is the full $95 billion being raised today?

No. About $35 billion is in offerings launched on October 26. The other $60 billion is a planned ATM program that depends on Class C common stock starting to trade. Meta says its terms and timing are not set and that it may not happen.

What is an at-the-market program?

It lets a company sell new shares gradually into the market over time, instead of in one large offering. Meta says it plans one of about $60 billion, but has not yet agreed it with any bank.

Does this change how I use Meta's AI tools?

Not directly. Meta has not announced changes to features or pricing with this news. The plan is about paying for infrastructure and capacity, which can shape what its AI products can do over time.

Sources