According to a company statement cited by Bloomberg, Meta Platforms plans to generate as much as $95 billion by selling its common and preferred stock.
Meta intends to release around $35 billion in stock. This encompasses the provision of 250 million depositary shares—each equivalent to 1/20th of a preferred share—that must be converted into common stock. Furthermore, Meta will offer $22.5 billion in common stock.
Additionally, the company intends to secure up to another $60 billion via an “at-the-market” (ATM) initiative, through which it will occasionally sell shares in the public market. To achieve this, Meta plans to offer newly created Class C shares that do not have voting rights.
Chip manufacturers Nvidia, Advanced Micro Devices (AMD), and Broadcom have consented to buy as much as $5 billion in Meta’s stock. Meta intends to allocate the acquired funds to enhance artificial intelligence infrastructure and advance its own superintelligence.
Recently, Meta’s CEO Mark Zuckerberg has implemented a significant restructuring of the company’s AI division while actively recruiting new talent, according to Bloomberg.
The firm has pledged to allocate hundreds of billions of dollars towards infrastructure and has introduced numerous AI products. In September, Meta launched its AI assistant, Muse, together with an AI model named Muse Wonder. Meta asserts that its abilities in areas like software code writing are similar to those of OpenAI’s ChatGPT and Anthropic’s Claude.
source: bloomberg.com
