Meta plans to raise as much as $95 billion through several share offerings to help finance its AI infrastructure expansion. The proposed structure mixes voting stock, preferred-share interests and future nonvoting shares rather than relying on one immediate sale.
About $22.5 billion would come from Class A common stock. Another $12.5 billion would be raised through depositary shares, each representing one-twentieth of a new preferred share; those securities automatically convert into common stock in August 2029 unless converted sooner. The remaining $60 billion would come from ongoing market sales after new Class C shares begin trading, which is expected no earlier than the first quarter of 2027.
Class C shares carry no voting rights. Meta’s existing Class A shares have one vote each, while Class B shares have 10, and entities controlled by CEO Mark Zuckerberg hold most of the Class B stock. Issuing nonvoting shares therefore lets the company raise capital without proportionally diluting his control.
Nvidia, AMD and Broadcom have expressed nonbinding interest in buying up to $5 billion of Meta shares, according to the announcement. Interest is not a completed purchase, and the full $95 billion is a maximum spread across different mechanisms and dates. Actual proceeds will depend on market conditions, conversion terms and how much of the planned Class C program Meta ultimately uses.