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Meta launches a $35 billion stock sale to fund AI, with $60 billion more planned for later

Meta is selling about $22.5 billion of common stock and $12.5 billion of convertible preferred now, and plans a roughly $60 billion Class C share program that has no agreement yet and isn't expected to start before 2027.

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Why it matters: Meta expects up to $145 billion of capex in 2026 and is now selling new stock, alongside debt and cash flow, to pay for its AI buildout.

For information only, not investment advice. Prices delayed.

Tickers: META

Meta's stock plan: the biggest piece comes later
Sainteur chart · Data: Meta SEC filing

Meta Platforms ($META) launched about $35 billion of stock offerings on Monday to help pay for its AI buildout, and said it plans to raise roughly $60 billion more later, according to its filing with the SEC.

The $35 billion comes in two pieces: about $22.5 billion of Class A common stock and about $12.5 billion of depositary shares tied to new mandatory convertible preferred stock, a security that automatically turns into common shares on or about Aug. 15, 2029. Morgan Stanley and Goldman Sachs are leading the deals. Meta says it does not expect to initially receive any proceeds from the common stock sale, because it is done through forward sale agreements: the cash arrives when Meta settles them, on or before Nov. 19, 2027.

The bigger number is the least settled one. The $60 billion would come from an at-the-market program, selling new non-voting Class C shares over time. Meta says it has no agreement for that program yet and doesn't expect it to start until the first quarter of 2027. CNBC put the whole plan at $95 billion.

Why so much? Meta expects $135 billion to $145 billion of capital expenditures in 2026 and says it will pay for its investments with a mix of operating cash flow, investment-grade debt, strategic partnerships and equity. The pricing, the preferred dividend rate and the conversion terms haven't been set yet. Meta shares closed at $642.62, down 0.96%, as of Oct. 23, 4:00 PM ET, before the announcement.

Sources

  1. Issuer free writing prospectus (Form FWP), Oct. 26, 2026, Meta Platforms, Inc.
  2. Prospectus supplement, Oct. 26, 2026, Meta Platforms, Inc.
  3. Meta announces $95 billion stock offering to fund AI expansion, CNBC

Tags: ai · big-tech