Meta Platforms Stock in Focus Amid $95 Billion AI Push

Meta Platforms Inc (NASDAQ:META) is in the spotlight today, after the tech giant announced plans to raise up to $95 billion to fund its AI expansion. The company launched roughly $35 billion in common and convertible preferred stock offerings, with plans for a separate share sale program of up to $60 billion. Nvidia (NVDA), Advanced Micro Devices (AMD), and Broadcom (AVGO) have also expressed interest in purchasing up to $5 billion of Class A shares.

META was last seen up 0.4% at $645.27, attempting to recover from a 7% post-earnings selloff last week. The shares are 17.5% from their Sept. 24, 52-week high of $779.82, a slide that has put Meta in "oversold" territory with a 14-day Relative Strength Index (RSI) of 23.5. The stock appears to have found support at its 100-day moving average, though the year-to-date breakeven level also looms above.

Per Schaeffer's Senior Quantitative Analyst Rocky White's list of stocks that saw the most options volume over the past two weeks, META saw more than 3.5 million calls and 2.6 million puts exchanged during this time frame. Today's options sentiment is slightly bullish, with net option delta volume of 132,913 shares, as bullish pressure accounts for 52% of activity compared to 48% bearish pressure.