Meta launches stock offerings to fund AI buildout; reported size differs
Meta is raising money through stock sales to pay for AI spending, with CNBC reporting both a $35 billion offering and a $95 billion total.
Meta is raising money in the public markets to pay for its expansion in artificial intelligence. CNBC gave two different dollar figures in its reports on Monday.
In its first report, CNBC said Meta launched public offerings of about $35 billion. They cover common stock and convertible preferred stock.
In a second report, CNBC said Meta plans to raise a total of $95 billion. It said the money would support investments in AI infrastructure and superintelligence.
The reports do not say how the two figures relate. The $35 billion could be one part of the $95 billion plan, but neither report says so.
The New York Times headline says Meta and SpaceX are both raising billions more for AI. The Times text provided says AI infrastructure is using up growing amounts of cash at the largest tech companies. It gives no details on either raise.
Reported by
- CNBCMeta launches $35 billion stock offering to fund AI expansionMon, Oct 26, 7:19 AM EDT
- CNBCMeta announces $95 billion stock offering to fund AI expansionMon, Oct 26, 7:34 AM EDT
- CNBCJim Cramer's top 10 things to watch in the stock market MondayMon, Oct 26, 9:20 AM EDT
- The New York TimesMeta and SpaceX to Raise Billions More to Fund A.I. AmbitionsMon, Oct 26, 9:21 AM EDT
- CNBCNvidia to invest $3 billion in Meta as tech giants deepen AI partnershipTue, Oct 27, 4:40 AM EDT
This story was written by AI using only the reports listed above, and published without a person reviewing it first. It is rewritten as new reports arrive. Read the original reporting for full detail. Spot an error? Tell us.