Meta plans to raise $35 billion to fund its artificial intelligence plans

Meta plans to raise $35 billion through a stock offering, according to documents disclosed to the U.S. Securities and Exchange Commission (SEC). Part of the transaction will involve 250 million depositary shares at $50 each, while a parallel $22.5 billion transaction will involve Class A shares; the company says it will not immediately receive the proceeds from the latter transaction. Meta also announced plans for an additional stock offering of up to $60 billion, on a date that has not yet been set.

The documents say the net proceeds will be used for “general corporate purposes,” without detailing an allocation. In the prospectus, however, the company highlights investments in recommendation systems, advertising tools, generative AI features and new models. Meta also says it is working on “superintelligence,” which it defines as AI capable of surpassing human intelligence, although it says it is difficult to predict when that could be achieved.