Market Chatter: Meta Platforms' Share Sale for AI Spending Oversubscribed

MT Newswires Live10-27 23:09

Meta Platforms (META) drew orders for about five times the available shares in its upsized $25 billion stock sale that seeks to raise $98 billion for AI spending, Bloomberg News reported Tuesday, citing people familiar with the offering.

More than half of the shares went to long-only and existing investors, with the 15 largest stakes making up roughly 70% of the shares, the report said.

A separate mandatory convertible preferred stock offering was also several times oversubscribed, Bloomberg said, citing the people.

Meta Platforms did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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