Meta Platforms is seeking to raise $29 billion from private capital firms to build artificial intelligence data centres in the U.S., the Financial Times reported on Friday.
The Facebook parent company is reportedly in advanced talks with private credit investors such as Apollo Global Management, KKR, Brookfield, Carlyle, and PIMCO, the report stated, citing sources familiar with the discussions.
Meta plans to secure $3 billion through equity and $26 billion via debt, though the company is still evaluating how to structure the debt portion and may potentially seek additional capital as well.
Meta Platforms’ fundraising efforts come amid its intensified focus on artificial intelligence, including a $14.8 billion investment in AI startup Scale AI. The company is aggressively expanding its AI infrastructure to stay ahead in the competitive landscape dominated by OpenAI and Google.
In January, CEO Mark Zuckerberg announced that Meta could invest up to $65 billion in 2024 to bolster its AI capabilities, reinforcing the company’s long-term vision to lead in the AI space.
According to the Financial Times, Meta is working with its financial adviser, Morgan Stanley, to structure the financing. The company is also exploring mechanisms to make the debt issuance more easily tradable in the market. While Meta and Carlyle declined to comment, Apollo Global, KKR, Brookfield, and PIMCO have not yet responded to Reuters’ requests for comment.
This move comes as major tech firms escalate capital expenditures to build AI-ready infrastructure. For instance, Microsoft has earmarked $80 billion for FY25, primarily to scale up its data center capacity and reduce AI service bottlenecks.
Back in February, it was reported that Apollo Global Management was in discussions to lead a $35 billion financing deal to support Meta’s U.S. data center development—highlighting the scale and urgency of investment needed to sustain the growing demand for AI computing power and high-performance chip clusters.