Meta plans a $95bn equity raise as banks line up $63bn for Anthropic chips

Meta said on 26 October that it plans to raise up to $95bn of equity, its largest fundraising. It launched public offerings of common and preferred stock worth about $35bn and plans an at-the-market sale of up to $60bn once its new non-voting Class C shares trade, expected in the first quarter of 2027. Nvidia, AMD and Broadcom expressed interest in buying up to $5bn of Class A shares. Meta had negative free cash flow of $2.12bn in the third quarter, its first in more than a decade, according to Reuters.

Separately, Bank of America, Citi and Morgan Stanley are arranging first-lien loans, and Blackstone second-lien financing, for a $63bn deal in which a new special purpose vehicle buys Broadcom accelerators and networking gear and leases them to Anthropic. Broadcom provides residual value support to the lenders. Deliveries are due to begin in 2027.