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Meta Plans $95 Billion Stock Offering for AI Expansion
Confirmed
In Short: Meta is planning a $95 billion stock offering to fund its AI infrastructure, with Nvidia, AMD, and Broadcom showing interest in purchasing up to $5 billion.
Meta is planning a massive $95 billion stock offering to fund its expanding AI infrastructure, with Nvidia, AMD, and Broadcom indicating interest in purchasing up to $5 billion of the initial stock offering, according to AI Insider and Quartz. The offerings consist of about $22.5 billion of Class A common stock and about $12.5 billion of depositary shares representing Series A Mandatory Convertible Preferred Stock.
The company launched the concurrent stock offerings on Monday, as part of a broader financing plan. The depositary share offering covers 250 million shares, each representing a 1/20th interest in a share of preferred stock. Meta expects to give the underwriters a 30-day option to buy up to $3.375 billion more Class A stock.
The offerings are tied to forward sale agreements with Morgan Stanley and Goldman Sachs. Meta plans to issue Class A stock to the forward purchasers and receive cash on one or more dates on or before November 15, 2029, into a variable number of Class A shares. Unless converted earlier, the preferred stock will convert on or about August 15, 2029.
The plan includes an at-the-market program of up to $60 billion in Class C common stock, which Meta plans to start once that previously announced stock begins trading. Any of the three companies could buy more, less, or none of the stock, and the underwriters could sell more, less, or none to them.
According to Tech Funding News, Meta disclosed $279 billion of future AI-related data center lease commitments in its Q2 filing. The company also issued $30 billion in bonds in October 2025, and plans to issue non-voting Class C common stock, effective January 19, 2027, with a one-time dividend of one Class C share for every Class A and Class B share.
The special committee of independent directors said the new shares will also pay employees and fund acquisitions. Meta expects no proceeds from the forward purchasers' sale of stock in the offering.
At its GTC event in San Jose in March 2026, Nvidia catered to approximately 30,000 attendees from over 190 countries, and held over 1,000 sessions, revealing details about Vera Rubin systems, the Kyber rack, and the next-gen Feynman architecture. However, at the upcoming GTC Berlin 2026 event, most flashy companies such as Micron, SK hynix, Samsung, Broadcom, Marvell, Intel, and AMD, won't take the center stage, somewhat dampening the hype around the event.
The event might do more for Intel's revenue expectations than Nvidia's, quite perplexingly so. With TSMC's CoWoS capacity choked right now, Nvidia could give Intel's EMIB-T or Foveros advanced packaging solution a share of the Feynman packaging pie.
What's confirmed
- Meta is planning a massive $95 billion stock offering to fund its expanding AI infrastructure, with Nvidia, AMD, and Broadcom indicating interest in purchasing up to $5 billion of the initial stock offering, according to AI Insider and Quartz. The offerings consist of about $22.5 billion of Class A common stock and about $12.5 billion of depositary shares representing Series A Mandatory Convertible Preferred Stock.
- The company launched the concurrent stock offerings on Monday, as part of a broader financing plan. The depositary share offering covers 250 million shares, each representing a 1/20th interest in a share of preferred stock. Meta expects to give the underwriters a 30-day option to buy up to $3.375 billion more Class A stock.
- The offerings are tied to forward sale agreements with Morgan Stanley and Goldman Sachs. Meta plans to issue Class A stock to the forward purchasers and receive cash on one or more dates on or before November 15, 2029, into a variable number of Class A shares. Unless converted earlier, the preferred stock will convert on or about August 15, 2029.
- The plan includes an at-the-market program of up to $60 billion in Class C common stock, which Meta plans to start once that previously announced stock begins trading. Any of the three companies could buy more, less, or none of the stock, and the underwriters could sell more, less, or none to them.
- According to Tech Funding News, Meta disclosed $279 billion of future AI-related data center lease commitments in its Q2 filing. The company also issued $30 billion in bonds in October 2025, and plans to issue non-voting Class C common stock, effective January 19, 2027, with a one-time dividend of one Class C share for every Class A and Class B share.
- The special committee of independent directors said the new shares will also pay employees and fund acquisitions. Meta expects no proceeds from the forward purchasers' sale of stock in the offering.
- At its GTC event in San Jose in March 2026, Nvidia catered to approximately 30,000 attendees from over 190 countries, and held over 1,000 sessions, revealing details about Vera Rubin systems, the Kyber rack, and the next-gen Feynman architecture. However, at the upcoming GTC Berlin 2026 event, most flashy companies such as Micron, SK hynix, Samsung, Broadcom, Marvell, Intel, and AMD, won't take the center stage, somewhat dampening the hype around the event.
- The event might do more for Intel's revenue expectations than Nvidia's, quite perplexingly so. With TSMC's CoWoS capacity choked right now, Nvidia could give Intel's EMIB-T or Foveros advanced packaging solution a share of the Feynman packaging pie.
What's still developing
- It is not expected to start until the first quarter of 2027, and Meta said there is no assurance it will be established.
- Zuck started Facebook in 2004, and as of September, 3.64 billion people use his Meta apps every day.
- The other $60 billion is purely a planned offering, not a final transaction.
- NVIDIA is gearing up to hold its third of four GTC events planned for this year, where Jensen Huang is expected to give a keynote address on Wednesday, detailing NVIDIA's AI hardware pipeline for the upcoming quarters.
- Any confirmation on this front can have an incremental effect on Intel, especially in relation to the durability of its NVIDIA-derived revenue.
- More importantly, however, there have been persistent rumors that NVIDIA could fabricate the I/O die for the Fenyman generation on Intel's 18A-P or 14A node.
- Then, at its GTC event in Taipei in June 2026, NVIDIA disclosed that the Vera Rubin system was ramping up into full production, and unveiled Vera as a standalone CPU, replete with its own rack. hile NVIDIA is expected to focus on Europe's AI ecosystem at this week's GTC Berlin, it can still reveal tantalizing details that could have an outsized influence on Intel.