Meta weighs equity raise for AI buildout

Meta is reportedly considering raising tens of billions of dollars through a stock offering to fund its AI infrastructure push. The report follows Alphabet's large equity raise and comes after Meta lifted its annual capital spending forecast to $125bn-$145bn. The signal is that AI data centre and compute expansion is becoming a capital-market issue, not only a technology race.

• Shares fell 6.6% after the report on possible new stock See also: Meta Platforms.

• Big Tech is shifting AI funding toward debt and equity markets

The fact

Meta is considering raising tens of billions of dollars through a stock offering to fund its AI infrastructure push, according to a Financial Times report cited by Reuters. The talks intensified after Alphabet raised $84.75bn in upsized equity offerings. Meta has not hired banks and may still avoid issuing stock. It previously filed for a $30bn bond offering, agreed a $27bn Blue Owl financing deal, and lifted 2026 capital spending guidance to $125bn-$145bn.

The Assessment

The equity talks reflect how AI infrastructure funding has moved into public-market territory. Meta is testing whether investors will carry the capex burden behind data centres and model competition. Capital markets are now a visible piece of AI infrastructure, with dilution, leverage and investor tolerance shaping project delivery alongside power and fibre.

What to Watch

Watch whether Meta appoints banks, confirms an equity structure, or leans further on private financing. Investor reaction will show whether AI infrastructure spending still commands market support.