The Financial Times reported on June 5, 2026 that Meta Platforms is weighing an equity offering in the tens of billions of dollars to finance its swelling AI infrastructure investments. Meta shares fell about 6.6% on the report, closing near $593.
June 5 · Meta
Meta weighs a multibillion-dollar stock sale to fund its AI buildout
Reports say Meta is exploring an equity offering of "tens of billions of dollars" to bankroll soaring data-center spending. Meta calls it "pure speculation" — but shares still slid on dilution fears.
−5–6.6%
Meta's share drop on the day of the report
~41%
Operating margin of the ad business backing the AI bet
~$600B
Planned US infrastructure & jobs spend over 3 years
The engine behind the cash hunt: CapEx is nearly doubling
Spending on AI data centers is rising sharply year-over-year.
2025 CapEx (actual) ~$72.2B
2026 CapEx (guidance) $125B–$145B
Takeaway: Guidance for 2026 is up to ~2× last year's actual spend — a gap that demands fresh capital.
Big Tech racing for AI funding — same week
Alphabet
~$8.5B
Stock offering already executed
Meta
Tens of $B
Under consideration — no amount or timing set
The long-term case
AI demand is "real"
High ~41% ad operating margin sustains heavy investment
Shift from debt to equity protects credit ratings
The skeptics
A pivot from buybacks to issuance would be a "paradigm shift"
Share dilution fears
"Ultimately the ROI economics will be tested"
Nothing is final: neither the existence nor the size of an offering has been decided, and the 2026 CapEx is unlikely to be funded by equity alone.
Meta has already tapped outside capital — ~$2B in data-center asset sales and a ~$27B "Hyperion" JV with Blue Owl Capital.
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