Meta’s data-center project priced a $12.5 billion offering with a higher interest rate than a deal last year, as AI companies flood the market with new debt | Business News

Big Tech's AI capex boom is wiping out free cash flow. Discover how data center spending is changing tech investing forever.

Meta stock plummeted almost 10% earlier this year—wiping $175 billion from its market cap—after the company hiked its expected capital spending for AI infrastructure.