New york: Meta Platforms plans to raise $29 billion to fund the construction of artificial intelligence data centers across the United States, according to the Financial Times.
Sources cited by the newspaper said the parent company of Facebook is in advanced talks with leading private equity firms including Apollo Global Management, KKR, Brookfield, Carlyle, and PIMCO. According to Bahrain News Agency, Meta aims to raise $3 billion through direct investment and $26 billion via debt issuance, with the possibility of increasing that figure.
The company is working with Morgan Stanley to structure the funding and explore options for secondary trading of the bonds. The move aligns with Meta's strategy to expand in the field of artificial intelligence, following its recent $14.8 billion investment in the startup Scale AI. Neither Meta nor the investment firms commented on the report.