1 hr. ago
June 5 (Reuters) - Meta is considering raising tens of billions of dollars in a stock offering as it seeks new sources of capital to fund the company's AI ambitions, the Financial Times reported on Friday.
The report comes after Alphabet moved to raise $84.75 billion in upsized equity offerings, as Big Tech competes to build data centers and capitalize on growing demand for AI.
Meta executives have been exploring "creative" ways to raise cash as it prepares to sharply boost its AI-related expenses, the FT report said, citing three people familiar with the plans.
After the success of Alphabet's equity raising this week, the discussions have intensified, as per the report.
Meta did not immediately respond to Reuters' request for comment. Shares of the social media company were down 6.6% following the report.
The report comes after Alphabet moved to raise $84.75 billion in upsized equity offerings, as Big Tech competes to build data centers and capitalize on growing demand for AI.
Meta executives have been exploring "creative" ways to raise cash as it prepares to sharply boost its AI-related expenses, the FT report said, citing three people familiar with the plans.
After the success of Alphabet's equity raising this week, the discussions have intensified, as per the report.
Meta did not immediately respond to Reuters' request for comment. Shares of the social media company were down 6.6% following the report.
