Meta raises AI fundraising plan to $97.5 billion as Nvidia, AMD pledge investments

# Meta Expands AI Fundraising Plan to $97.5 Billion as Nvidia and AMD Join Investment Drive

Meta has increased its planned equity fundraising to $97.5 billion as the social media company accelerates spending on artificial intelligence infrastructure. The expanded plan includes a larger common stock offering, preferred shares and a separate program that would allow the company to sell additional shares gradually in the market.

The company raised its common stock offering from the previously announced $22.5 billion to $25 billion, pricing the shares at $625 each. Meta also priced 250 million depositary shares at $50 apiece, bringing its announced public offerings of common and preferred stock to approximately $35 billion.

Beyond these offerings, Meta intends to establish an at-the-market share sale program worth up to $60 billion. Such programs allow companies to issue shares over time at prevailing market prices rather than selling the entire amount in a single transaction.

The additional share sales are expected to begin after Meta’s new nonvoting Class C shares start trading in the first quarter of 2027. The company has not yet determined the program’s final timing or terms.

## Nvidia and AMD Commit Billions

Meta’s fundraising effort ranks among the largest financing initiatives associated with the AI industry. Nvidia, AMD and Micron have expressed interest in purchasing up to $5 billion worth of Meta’s Class A shares collectively.

In a separate announcement, Nvidia said it would invest $3 billion in Meta’s equity offering, strengthening the relationship between the chipmaker and the technology company. Nvidia also said Meta would expand its use of Vera Rubin systems and Vera CPUs, while both companies would deepen their collaboration on Muse, Meta’s AI agent launched last month.

Nvidia CEO Jensen Huang described AI agents as a new computing model in which software can understand objectives, reason, use tools and complete tasks on behalf of users. He said the technology could change how people interact with computers, shifting from operating individual applications to working with intelligent agents.

Meta CEO Mark Zuckerberg said the company looked forward to continuing its partnership with Nvidia to develop personal AI agents and advanced models for billions of people.

AMD has also announced a $1 billion investment. The company said its Helios rack systems were already operating at Meta, while its EPYC processors were powering Meta’s Muse AI agent.

## AI Spending Raises Questions About Financing

The investment commitments have renewed concerns about circular financing in the AI sector. In this model, chip suppliers invest in major customers that use the funding to expand infrastructure and purchase computing hardware, creating close financial and commercial links between the companies.

Meta has committed substantial resources to chips and data centers as it seeks to strengthen its position against AI competitors, including OpenAI and Anthropic. The scale of its latest fundraising effort highlights the growing cost of building and operating advanced AI systems.

William Blair analysts said investors would likely continue examining how Meta finances its expansion and whether additional capital raises might be needed. They added that the financing reflects both Meta’s confidence in the long-term returns from AI investment and the increasingly capital-intensive nature of competing in the sector.

Despite the announcement, Meta shares fell approximately 1.4% in morning trading, indicating that investors continued to weigh the company’s ambitious AI plans against the financial demands of executing them.