Meta’s $25 Billion Stock Sale Draws Five Times Available Shares in Demand

Meta’s $25 billion common-stock sale drew demand for about five times the shares available, a financing milestone as the company raises money for planned artificial intelligence spending.

Meta priced the sale at $625 per share, a 2.7% discount to the stock’s closing price the previous Friday. More than half of the shares were allocated to long-term investors and existing shareholders. The 15 largest allocations together accounted for about 70% of the offering.

Meta shares fell as much as 1.4% in New York trading Tuesday, reaching $621.47. Meta is targeting $98 billion for AI spending, with the common-stock sale forming one part of that financing plan.

The broader plan also includes a $12.5 billion mandatory convertible preferred-stock offering and an at-the-market share program that Meta expects to launch. The preferred-stock raise is separate from the $25 billion common-stock sale. Together, the planned measures put the stock offering within a wider fundraising effort for AI spending.