The package comprises approximately $22.5 billion of Class A common stock offered through forward sale agreements and 250 million depositary shares representing newly issued Series A mandatory convertible preferred stock, valued at approximately $12.5 billion.
The company also said it plans an approximately $60 billion at-the-market program for its previously announced Class C common stock after that stock begins trading. Meta has not entered an agreement for that program; its timing, size, and terms remain undetermined, and the company says it may not establish it.
Meta said the financing supports a mix of operating cash flow, debt, partnerships, and equity capital as it expands AI infrastructure and compute capacity. It expects 2026 capital expenditures of $135 billion to $145 billion. The filing says net proceeds are for general corporate purposes; it does not allocate proceeds to particular data centers, models, products, or partners.