Meta Platforms Inc raised $10.5 billion through a bond sale to support its AI initiatives and general corporate needs.
Meta Platforms Inc (NASDAQ:META) has raised $10.5 billion in a bond sale as the Facebook, Whatsapp and Instagram owner continues to ramp-up investments to underpin its artificial intelligence strategies.
It has sold high-grade, long-dated debt into the market. The securities are split into multiple parts, with the longest dated debt among them given a 40-year maturity.
Proceeds from the bond sale would be used to support general corporate purposes, according to reports citing a source familiar with the matter.
This is Meta’s latest bond funding, following an $8.5 billion raise in 2023 and a $10 billion raise in 2022.
Meta meanwhile had some $58.1 billion in cash at the end of June.
In New York, Meta stock traded around $5.17 or 1% lower to $488.92.
