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The Guardian - UK
The Guardian - UK
Technology
Dan Milmo and Graeme Wearden

Meta plans $95bn stock offering to help cover AI expansion

Meta Elon Musk Artificial Intelligence CoreWeave Mark Zuckerberg SpaceX IREN
A blue-lit keyboard glows beneath a screen showing the Meta logo and name
Shares in Meta rose in early trading on the news. However, other companies in the AI sector found themselves under further pressure on Monday. Photograph: Dado Ruvić/Reuters

Mark Zuckerberg’s Meta has announced plans for a $95bn (£71bn) fundraising to cover its AI expenditure, even as Elon Musk warned that funding for smaller players in the sector was drying up.

The owner of Facebook, Instagram and WhatsApp is a leading investor in AI and is ploughing multibillion-dollar sums into datacentres, the central nervous systems of the technology.

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