Mark Zuckerberg · SpaceX · Meta · Elon Musk · Facebook · Instagram · The Guardian Technology
Meta gears up $95bn stock offering to help cover AI expansion
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
◌ Single Source
Mark Zuckerberg’s Meta has announced plans for $95bn (£71bn) of fundraising to cover its AI expenditure, even as Elon Musk warned that funding for smaller players in the sector was drying up.
Key facts
- Mark Zuckerberg’s Meta has announced plans for $95bn (£71bn) of fundraising to cover its AI expenditure, even as Elon Musk warned that funding for smaller players in the sector was drying up
- SpaceX reported on Monday that it had entered a $40bn deal with Apollo Global Management to lease chips to power AI datacentres
- CoreWeave’s chief executive, Michael Intrator, reportedly sent an internal memo to employees this month saying that some investors had not understood the $30bn company
- In the first, the company plans to raise $35bn through new “underwritten public offerings”, a sale of company stock
Summary
The owner of Facebook, Instagram and WhatsApp is a leading investor in AI and is ploughing multibillion-dollar sums into datacentres, the central nervous systems of the technology. Meta’s announcement on Monday came after Musk added to the pressure on “neocloud” datacentre providers, which lease computing power to AI companies, by saying the sector faced “death and consolidation” amid concerns over the sustainability of their funding. The Meta fundraising will come in two parts. In the second, Meta also plans to launch a $60bn “at-the-market offering” to sell new common stock to investors at the going market rate in future.