[BENGALURU] The Metaplatform is looking to raise US$29 billion from private capital companies to build American AI (AI) data centers. Financial Times It was reported on Friday (June 27th).
Facebook-Parent's advanced discussions with personal credit investors such as Apollo Global Management, KKR, Brookfield, Carlyle and Pimco say cite people familiar with the issue.
Meta is trying to raise US$3 billion in equity and US$26 billion in debt, the report said, adding that the company is discussing the structure of its debt raising and may try to raise more capital.
Such fundraising occurs when Meta doubles its commitment to AI. This includes a US$14.8 billion investment in Startup Scale AI.
Meta Chief Executive Mark Zuckerberg said in January that the company would spend as much as $65 billion this year to expand its AI infrastructure, sought to bolster its competitors and Google in the race leading the AI technology landscape.
Mehta and Carlyle declined to comment, but Apollo Global, KKR, Brookfield and Pimco did not immediately respond to Reuters' request for comment.
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Meta worked with an advisor at Morgan Stanley to arrange funding and was considering ways to make it easier to trade debts when it issuing debts, the FT report said.
Large tech companies are investing heavily to secure the enormous computing power needed to run AI models, increasing the demand for specialized data centers that link thousands of chips to high-performance clusters.
Microsoft plans to spend USD 80 billion in capital for fiscal year 2025, most of which aims to expand its data centers to facilitate bottlenecks in AI services capacity.
Bloomberg News reported in February that Apollo Global Management is in talks to lead a funding package of approximately US$35 billion to help develop data centers in the US. Reuters
