Meta Platforms is in advanced discussions with major private equity firms to raise $29 billion for expanding its artificial intelligence data centers across the United States, according to multiple reports Friday. The social media giant plans to structure the funding as $3 billion in equity and $26 billion in debt.
The fundraising effort represents the latest escalation in Meta's infrastructure arms race as technology companies pour hundreds of billions into AI computing capacity. Potential investors include Apollo Global Management, KKR, Brookfield, Carlyle, and Pimco, with Morgan Stanley serving as an advisor.
Meta has not disclosed specific details about the timing or final terms of the fundraising, and talks remain ongoing1. The $29 billion target comes as the company faces mounting pressure to build the massive computing infrastructure needed to train and deploy advanced AI models2.
The funding initiative follows Meta's announcement earlier this year that it would invest between $60 billion and $65 billion in capital expenditures for 2025, nearly double its 2024 spending34. Chief Financial Officer Susan Li warned that rising infrastructure hardware costs, driven by global trade uncertainty, are inflating the company's bills5.
Meta CEO Mark Zuckerberg said in January that 2025 would be a "defining year for AI" as the company builds what he described as a data center "so large it would cover a significant part of Manhattan"1. The company plans to bring online approximately one gigawatt of computing power this year and end 2025 with more than 1.3 million graphics processing units21.
The company has already committed to major projects, including a $10 billion data center in Louisiana's Richland Parish covering 4 million square feet, set for completion in 20303. Additional facilities are planned in Wyoming, Texas, and Wisconsin34.
Meta's fundraising comes as rivals pour billions into their own infrastructure projects. Microsoft plans to spend $80 billion on AI data centers in 2025, while OpenAI is contributing to the Stargate joint venture that could yield hundreds of billions in data center resources1. Amazon is constructing 30 large data centers in Indiana to support its partner Anthropic2.
The company has faced challenges with its AI development, including delays in releasing the largest version of its Llama 4 model and controversies over test scores of smaller releases2. Despite these setbacks, Zuckerberg has been actively recruiting top AI researchers, reportedly offering starting salaries up to $100 million2.
