Meta plans $95bn stock offering to fund AI expansion as neoclouds face pressure
AIMeta plans to raise $95bn in two stock offerings to cover its AI infrastructure spending, with $35bn in underwritten public offerings and $60bn through an at-the-market offering of new class C shares. Elon Musk said debt markets had largely shut off funding to neocloud datacentre providers without substantial revenue outside AI, and CoreWeave and Iren shares fell more than 2% in premarket trading.
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The Guardian · AI · Dan Milmo and Graeme Wearden · theguardian.comPublished · added here
Original title: Meta plans $95bn stock offering to help cover AI expansion