Facebook parent Meta Platforms (META) to raise money through bond offerings worth up to $30 billion, it said in a filing on Thursday, as costs from its AI expansion continue to climb.
The bond sale comes a day after Chief Executive Officer Mark Zuckerberg warned that the company would spend even more aggressively on artificial intelligence in the coming year.
It is raising the funds through a six-part bond sale with maturities ranging from five to 40 years.
Meta has flagged that its capital expenditure next year will be “notably larger” than in 2025, while investors scrutinize the pace of return on these hefty investments.
Class A shares of Meta Platforms (META) on Thursday slumped as much as -13.5% to $650.25, after the social media giant booked a nearly $16B one-time income tax charge in its quarterly results. At that session low, the stock had lost more than $220B in market value.
Source: Filing