Meta shares fall over 5% on report of potential multibillion-dollar stock offering for AI investments
By
Jonathan Vanian
Summary
Meta shares dropped over 5% after the Financial Times reported the company may raise tens of billions of dollars through a stock offering to fund its AI investments. This follows rival Alphabet's announcement of plans to raise $85 billion from equity sales. The news comes amid growing investor concerns about excessive AI spending across the tech industry, with Alphabet also experiencing a four-week stock decline.
Source
bskyMeta shares fall over 5% on report of potential multibillion-dollar stock offering for AI investmentscnb.cxKey quotes
· 3 pulledMeta shares dropped more than 5% on Friday after the Financial Times reported that the company could potentially raise tens of billions of dollars in a stock offering to fund its artificial intelligence investments.
The social media company is pondering the potential stock sale, the FT reported, after rival Alphabet said this week that it plans to raise $85 billion from selling equity, increasing that number from $80 billion.
Alphabet has been on a tear over the past year, but the stock is down for a fourth straight week as investors worry about excessive AI spending.
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