Meta is planning to raise $95bn in a stock offering to fuel its massive AI infrastructure spending, backed by chipmakers Nvidia, AMD and Broadcom, who will act as cornerstone investors. The parent of Instagram and WhatsApp last week reported a 26 per cent jump in sales in the third quarter, ahead of analysts’ estimates, and projected capital spending of up to $145bn this year, as it warned investors it would need to raise “hundreds of billions of dollars” over several years to fund its bet on AI. Read more here. submitted by /u/financialtimes
Originally posted by u/financialtimes on r/ArtificialInteligence
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