Meta plans up to $95 billion in stock sales to fund AI infrastructure buildout

Meta plans to sell up to $95 billion in new shares to fund AI infrastructure, with $22.5 billion from Class A common stock and $12.5 billion from depositary shares each representing one-twentieth of a new preferred share that converts to common stock in August 2029. The remaining $60 billion will come from open market sales of new Class C shares, likely starting no earlier than Q1 2027. Class C shares carry no voting rights, allowing Meta to raise capital without diluting CEO Mark Zuckerberg's control. Nvidia, AMD and Broadcom have expressed non-binding interest in buying up to $5 billion in Meta stock.