As of 8:45 PM IST, Tuesday 27 October 2026. Share moves are pre-market or intraday figures as reported by the sources cited.
Meta has raised the size of its record equity fundraising to $97.5 billion, and two of its biggest chip suppliers are buying in: Nvidia said it will invest $3 billion and AMD $1 billion in the offering, as the Facebook parent races to pay for its AI build-out.
A bigger raise, priced at $625
In a press release on the pricing, Meta said it had upsized its Class A common stock offering to $25 billion from the $22.5 billion announced on Monday, at $625 a share. It also priced 250 million depositary shares representing 6.50% Series A mandatory convertible preferred stock at $50 each, for expected net proceeds of about $12.5 billion (about $14.3 billion if underwriters take up their full over-allotment option). Both offerings are expected to close on 29 October.
The common stock is being sold through forward sale agreements, so Meta does not receive the cash straight away; it expects to settle them on or before 19 November 2027, for net proceeds of about $24.9 billion. Morgan Stanley and Goldman Sachs are lead bookrunners. The preferred depositary shares are to be listed on Nasdaq under the symbol METAM.
On top of that, Meta plans a separate programme to sell up to $60 billion of shares over time at market prices, bringing the total to $97.5 billion, Reuters reported. Reuters said that at-the-market sale is expected to begin after Meta's planned non-voting Class C shares start trading in the first quarter of 2027.
Nvidia and AMD buy in
Nvidia will put $3 billion and AMD $1 billion into the offering, CNBC reported. Meta's announcement on Monday had said Nvidia, AMD and Broadcom had expressed interest in buying up to $5 billion in total; Broadcom's final participation was not confirmed in the reports reviewed by HorizonDesk.
The investments come with deeper technology ties, according to CNBC. Meta will expand its deployment of Nvidia's Vera Rubin systems and Vera CPUs, and the two will work more closely on Muse, the AI agent Meta launched last month. AMD's Helios racks are already running at Meta, and AMD EPYC processors power Muse.
- Nvidia CEO Jensen Huang: "AI agents represent a new computing paradigm."
- Meta CEO Mark Zuckerberg: "We're excited to keep working with NVIDIA."
- AMD CEO Lisa Su spoke of building "infrastructure at gigawatt scale".
The circular-money question
Reuters noted that the deals add to concerns about an increasingly circular flow of capital in AI, with chip suppliers helping to finance one of their biggest customers. Nvidia has made 121 investment rounds this year, compared with 13 in 2022, and AMD 25, compared with two in 2022, CNBC reported, citing Dealroom data. AMD pledged up to $5 billion for Anthropic in July.
The cash is needed. Meta reported a $2.12 billion cash burn in the third quarter, its first negative free cash flow in more than a decade, and has committed to about $825 billion in future spending, largely on data centres and AI infrastructure, Reuters said. Last week it raised the lower end of its 2026 capital expenditure forecast to a range of $135 billion to $145 billion.
"We expect investors to continue to question the financing and potential for future capital raises," William Blair analysts wrote, while adding that it reinforces Meta's confidence in long-term returns from AI.
Market reaction
Meta closed down nearly 2% at $630.56 on Monday, according to Reuters, and was slightly lower again in early Tuesday trading. CNBC reported AMD up about 3% and Nvidia roughly flat in pre-market trade.
Related reading on HorizonDesk
- Meta's Muse Spark open-weight model
- Anthropic files S-1 for Nasdaq IPO
- Nvidia's DSX Pod AI factory in a shipping container
- Why private AI lab revenue now moves Wall Street
