Meta Prices a $25 Billion Stock Sale at $625 a Share in an AI Raise That Could Reach $97.5 Billion: What Shareholders Should Know

Meta is selling new shares on a scale rarely seen on Wall Street to pay for its AI build-out, and that changes the math for everyone who owns the stock.

What did Meta announce?

Late Monday, Oct. 26, 2026, Meta Platforms (META) priced $25 billion of new Class A stock at $625 a share, up from a planned $22.5 billion, plus $12.5 billion of convertible preferred stock. With a planned $60 billion share program in 2027, the total raise could reach $97.5 billion.

The plan came in two steps. Early Monday, at 6:58 a.m. Eastern, Meta announced the launch of about $35 billion of stock offerings led by Morgan Stanley and Goldman Sachs. Then, at about 10 p.m. Pacific time, it announced the final pricing, including the larger common-stock sale. Both offerings are expected to close on Thursday, Oct. 29.

Meta also said Nvidia, AMD and Broadcom had expressed interest in buying up to $5 billion of the common stock in total. Those indications were not binding, so the chipmakers could buy more, less or none.

How does the offering work?

There are three pieces, and each works a little differently.

The first is the $25 billion of common stock, sold through "forward sale agreements." Banks sell 40 million shares to investors now, but Meta does not receive the money until it settles the agreements, which it can do on or before Nov. 19, 2027. Meta expects about $24.9 billion of net proceeds, or about $28.7 billion if underwriters use their option to buy $3.75 billion more.

The second is $12.5 billion of "mandatory convertible preferred" stock, sold as 250 million depositary shares at $50 each. They pay a 6.50% yearly dividend, paid quarterly from Feb. 15, 2027, and automatically turn into Meta common stock around Aug. 15, 2029. They will trade on Nasdaq under the ticker METAM.