Meta’s $95 Billion AI Push Pulls Nvidia and AMD Into Its Orbit

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Meta’s $95 Billion AI Raise Pulls Nvidia and AMD Into Its Orbit Meta set the stakes on Monday, unveiling plans to raise up to $95 billion for AI infrastructure and superintelligence: $35 billion through underwritten equity offerings, followed by a $60 billion at-the-market programme once its Class C shares begin trading. The company said the build-out would support opportunities across its apps, data-centre business and Muse AI agent.

The financing comes with a conspicuous trade-off. Meta said it expects annual capital expenditures of $135 billion to $145 billion, even as its latest quarterly revenue rose 26% and operating income fell 37% amid surging costs. Ben Wood of CCS Insight called the fundraising a reflection of the “eye-watering levels of investment required to keep up in the AI arms race.”

On Tuesday, the chipmakers moved from prospective buyers to strategic backers. Nvidia said it would invest $3 billion in Meta’s equity offering; AMD followed with a $1 billion commitment, together accounting for $4 billion. Meta had said Nvidia, AMD and Broadcom had each indicated interest in buying up to $5 billion of shares, though those indications were non-binding.

For Nvidia, the investment also locks in a deeper commercial partnership. Meta will expand deployments of Nvidia’s Vera Rubin systems and Vera CPUs, while the companies will work on Muse and its family of models to improve training and inference performance. Jensen Huang, Nvidia’s chief executive, cast AI agents as “a new computing paradigm” that can understand goals, reason and use tools on users’ behalf.

AMD made a parallel case for its place in Meta’s stack, saying its Helios racks are already running at the company and its EPYC processors power Muse. Lisa Su said the partners were building infrastructure “at gigawatt scale” for Meta’s most ambitious superintelligence services. Zuckerberg’s message was simpler: Meta wants the vendors’ help delivering “the best personal agents and frontier models for billions of people.”

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