What happened
Meta launched two share offerings worth about $35bn to help pay for its growing AI spending, seeking a new funding source for rising costs in the field.
Structure of the offering
The largest part is $22.5bn of Class A common stock sold through forward sale agreements. In this arrangement, Meta delivers the shares and receives the money later, by 19 November 2027 at the latest.
Why it matters
AI infrastructure and models require large, long-term spending. Meta turning to a share sale can be read as an effort to manage the impact of that burden on its balance sheet. The company had recently drawn attention over board-level tensions around its AI spending.
