Meta announces $95 billion stock offering to fund AI expansion

Meta said Monday that it is planning to raise a total of $95 billion to support its investments in AI infrastructure and superintelligence.The stock was up 1.6% in premarket trading after the announcement.The tech giant will initially raise $35 billion in underwritten public equity offerings, before later raising an additional $60 billion with an at-the-market program.Meta's planned investments will support "emerging AI opportunities" including its family of apps, its AI agent Muse and its data center business, the company said Monday.Last week, Meta posted third-quarter results that showed revenue jumped 26% year-on-year, coming in at $64.60 billion versus the $63.37 billion analysts expected. However, investors focused more on the tech company's negative free cash flow and its higher full-year capital expenditure forecast.It now expects its full-year capex to range from $135 billion to $145 billion, raising the bottom of the range from a previous $130 billion. That sent shares lower on the day.This is a breaking news story. Please refresh for updates.