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Big Tech turning to equity to raise funds for AI

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Big Tech turning to equity to raise funds for AI

Business News Tech AI Big Tech turning to equity to raise funds for AI

Meta plans to raise up to $98 billion to fund AI infrastructure, making it one of the largest equity financing plans ever. Stocks worth only about $37.5 billion have been sold so far — which includes common stock, along with a $12.5 billion offering of mandatorily convertible preferred shares.

Meta Platforms put $25 billion of new stock on the market this week, which was subscribed five times, according to Bloomberg. The shares were priced at $625, a 2.7% discount to last Friday's close. The report said the 15 largest buyers took about 70% of the stock, and more than half went to long-term and existing holders.Meta plans to raise up to $98 billion to fund AI infrastructure, making it one of the largest equity financing plans ever.

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