Meta Platforms, Inc. (META) Looking To Raise $29B From Private Capital Firms For AI Data Centers

Meta Platforms, Inc. (NASDAQ:META) is among the Goldman Sachs Stock Portfolio: 10 Large-Cap Stocks To Buy. The tech giant is looking to raise $29 billion from private capital firms to establish AI data centers in the U.S., the Financial Times reported on Friday.

The company has already had advanced talks with private credit investors, including Apollo Global Management, Brookfield, KKR, Carlyle, and PIMCO, according to the report. Meta Platforms, Inc. (NASDAQ:META) is seeking to raise $26 billion in debt and $3 billion in equity, the sources added.

The development comes at a time when CEO Mark Zuckerberg is aggressively pushing to bolster AI efforts. The social media giant made a multi-billion-dollar investment in Scale AI in June and has also approached several companies to discuss potential takeover deals this year, including Safe Superintelligence, Perplexity AI, and Runway.

In January, Zuckerberg announced Meta Platforms, Inc. (NASDAQ:META) would spend about $65 billion during the year on expanding its AI infrastructure to strengthen its position against other major players in the AI landscape.

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