> ## Content Index
> Fetch the complete content index at: https://www.sharespective.com/llms.txt
> Use this file to discover other available public pages before exploring further.

# Meta lifted its share sale to US$97.5 billion, and Nvidia and AMD are buying in
- URL: https://www.sharespective.com/stories/meta-lifted-share-sale-us-97-2026-10-28/
- Published: 2026-10-27T21:15:01.000Z
- Updated: 2026-10-27T21:50:42.000Z
- Description: Meta raised its planned share sale on Tuesday to as much as US$97.5 billion, its largest equity raise ever. The shares fell 1.64% to US$620.19, after a 1.88% fall on Monday when the plan was first announced.
- Author: Shaun Botha
- Tags: Big tech, #story, #group-other, Meta, Nvidia, AMD

Meta raised its planned share sale on Tuesday to as much as US$97.5 billion, its largest equity raise ever. The shares fell 1.64% to US$620.19, after a 1.88% fall on Monday when the plan was first announced.

**Why would one of the world's most profitable companies sell shares?** Its spending has caught up with its cash. Meta's free cash flow was negative US$2.1 billion in the September quarter, the first time in more than a decade it has gone below zero.

The money arrives in stages. Meta sold US$25 billion of ordinary shares at US$625 each and US$12.5 billion of preferred shares, which convert into ordinary shares in 2029\. Up to US$60 billion more will be sold gradually on the market from early 2027.

![Chart: Meta's spending closes in on its cash. Cash from operations and capital spending by calendar year, 2010 to 2025, in US$bn. In the September quarter, free cash flow was negative US$2.1bn.](https://storage.ghost.io/c/02/71/0271df32-cec6-421f-9f13-b06ab90e54c1/content/images/2026/10/meta-lifted-share-sale-us-97-2026-10-28-chart.jpg)

This story’s chart of the day.

There is a timing twist as well. The ordinary shares were sold under forward agreements, so Meta does not expect that US$25 billion to land until as late as November 2027.

Two suppliers are joining in. Nvidia will invest US$3 billion in Meta and AMD US$1 billion, and both sell Meta the chips the money is meant to buy.

What to watch 

Meta expects to spend US$135 billion to US$145 billion on equipment and buildings this year, and has given no figure for 2027\. Every share it sells gives existing owners a smaller slice. For them, AI revenue has to grow faster than the share count does.

[ This story ran in Wings Clipped Wednesday 28 October’s edition, with the market snapshot, the other two stories, the numbers and the week ahead. Read the whole edition → ](https://www.sharespective.com/sharespective-2026-10-28/)