Meta Platforms is reportedly pursuing $29 billion in funding from private capital firms to build artificial intelligence data centers across the United States, according to the Financial Times.
Sources familiar with the discussions told the Financial Times that Meta is in advanced talks with private credit investors such as Apollo Global Management, KKR, Brookfield, Carlyle, and PIMCO.
Meta aims to secure around $3 billion through equity and an additional $26 billion via debt financing. Discussions are ongoing regarding how to structure the debt portion, and there’s potential for Meta to raise even more capital beyond the current target.
This potential fundraising aligns with Meta’s increased focus on artificial intelligence, highlighted by its recent $14.8 billion investment in the AI startup Scale AI. In January, CEO Mark Zuckerberg announced plans for up to $65 billion in AI infrastructure spending this year, as the company seeks to compete with rivals like OpenAI and Google in the rapidly growing AI sector.
While Meta and Carlyle declined to comment, other firms involved, including Apollo, KKR, Brookfield, and PIMCO did not immediately respond to Reuters’ requests for statements.
According to the Financial Times, Meta is working alongside advisers at Morgan Stanley to structure the financing in a way that could improve the tradability of the debt once it is issued.
Reuters notes that major technology companies are racing to secure the massive computing resources needed to power AI models, which is driving heightened demand for specialized data centers capable of connecting thousands of chips into high-performance computing clusters.
