Summary
On October 26, 2026, Meta disclosed in a filing with the U.S. SEC that it has launched a public follow-on offering of about $35 billion and plans to raise up to an additional $60 billion through at-the-market sales of non-voting Class C stock, for a combined maximum of about $95 billion, to support continued investment in AI infrastructure and personal superintelligence; Nvidia, AMD, and Broadcom have expressed interest in buying up to $5 billion of Class A shares in the offering.
Event Overview
- Date: October 26, 2026 (Meta regulatory filing).
- Company: Meta Platforms (U.S. social media and AI company).
- Event: Meta launched two equity financing tracks: a public follow-on offering of about $35 billion (already started) and a plan for up to $60 billion of non-voting Class C stock at market prices (no agreement signed; expected no earlier than Q1 2027).
- Background: On October 21, Meta reported its fiscal third-quarter 2026 results and announced a stock dividend of non-voting Class C common stock to existing investors in January 2027, which Meta said would have the effect of a 1-for-2 stock split.
Key Facts
| Item | Detail |
|---|---|
| Disclosure date | October 26, 2026 |
| Follow-on offering | About $35 billion ($22.5B Class A common stock + $12.5B depositary shares) |
| Class C at-the-market plan | Up to $60 billion (non-voting Class C; no agreement; expected no earlier than Q1 2027) |
| Strategic purchase interest | Nvidia, AMD, Broadcom interested in up to $5 billion of Class A shares combined (non-binding) |
| Over-allotment option | 30-day option to buy up to 37.5 million depositary shares and up to $3.375 billion of Class A stock |
| FY 2026 capex guidance | $135 billion to $145 billion |
| First-9-months operating cash flow | $97 billion |
Financial Background
- Meta said in the filing that it generated $97 billion of operating cash flow in the first nine months of 2026 and held about $82 billion of cash, cash equivalents, and marketable securities at the end of the third quarter.
- Total future spending commitments have risen to $825 billion from about $700 billion in July 2026; free cash flow turned negative for the first time in the third quarter.
- Meta said its AI investments are paying off through higher engagement, improved ad performance, and monetization, and that it is investing "with strict financial discipline."