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Meta has outlined up to $95 billion in planned equity financing to support its AI infrastructure build-out. The filing breaks that into about $35 billion in current offerings and a further $60 billion share-sale programme that could begin in 2027.

The larger programme has not yet been established, and Meta says its final timing and terms remain undecided. Nvidia, AMD and Broadcom have indicated interest in buying up to a combined $5 billion of the initial offering, but those indications are non-binding. That adds useful detail to the headline figure: a large part of the proposed funding is a future option, not money already raised. Meta expects capital spending of $135 billion to $145 billion in 2026, according to the company.

Discuss: Should Meta rely more on new share sales to fund its AI expansion, or should investors expect the company to finance more of it from operating cash flow?

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