Meta's Bold $29BN AI Data Centre Investment Plan

Meta Platforms Inc. is making a significant financial move by aiming to raise $29 billion for the development of new AI data centers. The funding strategy involves $3 billion in equity and an additional $26 billion in debt, highlighting the scale and ambition of this initiative.

This funding effort involves engaging with major private credit entities, including Apollo, Brookfield, and PIMCO, who are currently in discussions with Meta. This approach underscores Meta's commitment to advancing its technological infrastructure and maintaining its competitive edge in the rapidly evolving digital landscape.

The planned investment showcases Meta's determination to bolster its capabilities in artificial intelligence, which is an increasingly critical area for tech giants aiming for growth and innovation.

(With inputs from agencies.)