Meta began roughly $35 billion in common and preferred share offerings and outlined a separate, conditional $60 billion stock-sale plan.
Meta announced October 26 that it had launched concurrent public offerings expected to total approximately $35 billion, describing the financing as support for continued investment in AI infrastructure and personal superintelligence. The offerings comprise about $22.5 billion in Class A common stock through forward sale agreements and roughly $12.5 billion in depositary shares representing mandatory convertible preferred stock.
The company also outlined a separate plan for an approximately $60 billion at-the-market share program after its previously announced Class C shares begin trading. Meta said it has not entered an agreement for that program, and its timing, size and terms are undetermined; the company said it may not establish it at all. So the $60 billion is a prospective financing option, not part of the current launched offering.
Meta expects 2026 capital expenditures of $135 billion to $145 billion. Its release says it generated $97 billion in operating cash flow during the first three quarters of 2026 and held about $82 billion in cash, equivalents and marketable securities at the end of the third quarter. The company says it will fund investments through a mix of operating cash, debt, partnerships and equity.
Nvidia, AMD and Broadcom indicated interest in buying up to $5 billion of the common shares collectively, but Meta emphasized that these indications are non-binding. The company’s announcement also cited AI workloads and compute expansion among the reasons for its funding needs; proceeds from the current offerings are designated for general corporate purposes.
The move adds a large equity component to Meta’s AI infrastructure funding plans. The current offerings and any future at-the-market program remain subject to completion and their respective terms, while Meta’s stated spending range shows the scale of capital it expects to deploy this year.