Meta Platforms Inc. announced on Monday that it is planning to raise up to $95 billion to support its massive investments in artificial intelligence infrastructure and personal superintelligence. The company seeks to raise these funds through two new stock offerings, selling common and convertible preferred stock to tap investors for support in the race to lead AI development.
The funding will be used to finance Meta's costly AI expansion, including pouring multibillion-dollar sums into chips and datacentres, which act as the central nervous systems of the technology. These investments are aimed at allowing the owner of Facebook, Instagram, and WhatsApp to compete more effectively with rivals such as OpenAI and Anthropic. The initiative has already drawn interest from Nvidia.
This fundraising effort comes amid warnings from Elon Musk that funding for smaller players in the sector is drying up. Musk cautioned that hundreds of AI startups face potential collapse even as leading investors like Meta continue to scale their AI expenditures.