META JUST TOOK ITS AI TAB TO WALL STREET.

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META JUST TOOK ITS AI TAB TO WALL STREET.

Turns out GPUs eat cash too.

Meta announced concurrent public offerings as part of a financing plan supporting continued investment in AI infrastructure and personal superintelligence.

The plan includes approximately $22.5 billion of Class A common stock and approximately $12.5 billion of depositary shares representing mandatory convertible preferred stock.

That is roughly $35 billion of underwritten public offerings.

Meta also plans an approximately $60 billion at-the-market program after trading begins in its previously announced Class C common stock, although the company says it has not yet entered into an agreement for that program and its timing, size and terms have not been determined.

Why all the financial plumbing? Compute is expensive.

Meta expects capital expenditures of $135 billion to $145 billion in 2026 as it expands infrastructure and compute capacity.

The company says it is building four superclusters with more than one gigawatt of capacity each and expects to nearly double total infrastructure capacity in 2026 year over year.

Meta says its AI investments are already contributing to engagement, advertising performance and monetization. If those investments keep producing returns, Wall Street financing may simply be rocket fuel for the next phase.

If not, that is one enormous GPU receipt.

Lil'meme's verdict: Turns out GPUs eat cash too.