Meta plans $95bn stock offering to help cover AI expansion
by Dan Milmo and Graeme Wearden from Technology | The Guardian on (#79AXK)
Tech firm announces two-part fundraising after Elon Musk warns hundreds of AI startups face collapse
Mark Zuckerberg's Meta has announced plans for $95bn (71bn) of fundraising to cover its AI expenditure, even as Elon Musk warned that funding for smaller players in the sector was drying up.
The owner of Facebook, Instagram and WhatsApp is a leading investor in AI and is ploughing multibillion-dollar sums into datacentres, the central nervous systems of the technology.
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