Meta considers share sale to fund artificial intelligence projects
Meta (yep, the company behind Facebook and Instagram) is thinking about selling a bunch of new shares to raise serious cash for its artificial intelligence projects.
This move comes as demand for AI keeps heating up, and after Google's parent company, Alphabet, just moved to raise $84.75 billion through upsized equity offerings of its own.
Meta hasn't locked in any decisions yet, but the idea is definitely gaining traction.
Meta stock dips 6.6% after news
Meta's stock dipped 6.6% after word got out. Seems like investors are watching closely as tech giants race to build bigger and better AI infrastructure.
This isn't Meta's first big funding push: last October it filed for a $30 billion bond offering, landed $27 billion from Blue Owl Capital, and in April bumped its yearly spending forecast up to as much as $145 billion—all mostly aimed at powering its next wave of AI innovation.