Meta Platforms is weighing an enormous equity offering, potentially worth tens of billions of dollars, to bankroll what has become one of the most aggressive AI spending campaigns in corporate history. The Financial Times reported the plans on June 5, 2026, and the market responded with the subtlety of a fire alarm: Meta’s stock fell between 6% and 9%.
The timing is notable. Alphabet pulled off an $85B share sale just days earlier, suggesting Big Tech has collectively decided that diluting shareholders is the preferred method for funding the AI arms race.
The numbers behind the spending spree
Meta raised its 2026 capital expenditure guidance to $125B-$145B as of late April. That’s up from an already eye-watering $115B-$135B range the company had previously projected.
The increase was driven by two factors. Memory component costs are climbing, and the company is pouring money into expanding its data center footprint. Both are direct consequences of the computing power required to train and deploy large-scale AI models across Meta’s platforms.
