Even the richest tech companies need external financing to realize their ambitious plans. Meta, the parent company of Facebook, WhatsApp, and Instagram, has launched a massive $30 billion bond sale to finance the construction of its AI data center infrastructure. The loans, backed by Citigroup and Morgan Stanley, are divided into six parts with maturities ranging up to 40 years—the longest maturing in 2065.
The move highlights the escalating capital spending in the AI arms race, with major tech players pouring billions into infrastructure to realise their AI ambitions, reports The Register.
The bond issuance follows Meta’s strong financial results, which saw it positing $51.2 billion in revenue in the third quarter of calendar year, up 26 percent year-on-year. Chief Financial Officer Susan Li explained the company’s significant investment plans.
