Meta launches US$35 billion equity raise, funds US$60 billion at-the-market program for AI build-out

Meta Platforms has launched approximately US$35 billion of concurrent underwritten public offerings and plans an approximately US$60 billion at-the-market (ATM) program, as it funds capex it expects to reach US$135 billion to US$145 billion in 2026. The company said the equity raises complement operating cash flow, investment-grade debt, and strategic partnerships, and will further diversify its funding sources.