Meta is weighing an equity offering potentially worth tens of billions of dollars, and the ripple effects are already spreading. Microsoft and Amazon are now exploring similar stock sales of their own, turning what started as one company’s fundraising plan into a sector-wide phenomenon that could reshape how Big Tech finances its AI ambitions.
Meta’s stock dropped more than 6% in after-hours trading when the Financial Times broke the news on June 5. Some estimates put the decline as steep as 7%.
The Alphabet blueprint
Alphabet already pulled off an $85 billion equity raise earlier in 2026, effectively proving that the public markets have an appetite for massive tech stock offerings, at least when the money is earmarked for AI infrastructure.
The four major hyperscalers, Alphabet, Amazon, Meta, and Microsoft, are collectively expected to spend between $650 billion and $725 billion on AI-related capital expenses in 2026. These companies are building data centers, buying chips, and assembling AI hardware at a pace that makes previous tech booms look quaint by comparison.
