Nvidia and AMD have reportedly confirmed that they will invest a combined $4 billion in Meta, a day after the company announced plans to raise $95 billion to fund its AI infrastructure. Nvidia will put in $3 billion and AMD $1 billion.
Meta's $95 billion raise
Meta said, as reported by CNBC, that it would first raise $35 billion through underwritten public equity offerings, then a further $60 billion through an at-the-market program, in which a company sells shares gradually over time. Its announcement said Nvidia, AMD and Broadcom were interested in buying up to $5 billion of the shares.
What the chipmakers said
Nvidia said it would invest $3 billion in Meta's equity offering, and that Meta would expand its use of Vera Rubin and Vera CPU hardware. The companies will also deepen their work on Muse, Meta's AI agent, launched last month. "AI agents represent a new computing paradigm," said Nvidia CEO Jensen Huang. Meta CEO Mark Zuckerberg said Meta looks forward to delivering "the best personal agents and frontier models for billions of people."
AMD said its Helios racks are running at Meta and that its EPYC processors power Muse. CEO Lisa Su said the companies are building infrastructure "at gigawatt scale" for Meta's superintelligence ambitions.
Customers become shareholders
The deal turns two of Meta's biggest chip suppliers into shareholders. In February, Meta signed an agreement worth about $50 billion with Nvidia and one worth about $60 billion with AMD for six gigawatts of Instinct GPUs, with warrants convertible into roughly 10 percent of AMD's equity. Money now flows both ways, which investors may question, but the investments are small next to those purchase commitments.
Nvidia has been building stakes across the AI industry, with investments in OpenAI, Anthropic, Intel and xAI and 121 investment rounds this year, up from 13 in 2022, according to Dealroom. AMD said in July that it would invest up to $5 billion in Anthropic and has joined 25 funding rounds in 2026.
Why Meta is raising equity
Big Tech has been shifting from funding AI spending with cash toward debt and equity. Meta raised its capital spending forecast in April to between $125 billion and $145 billion. The Financial Times reported in June that it was considering a share sale after Alphabet raised about $85 billion in equity. Meta has also used debt, including a $30 billion bond offering and a $27 billion financing deal with Blue Owl Capital.
Market reaction
The $35 billion tranche will show how much appetite investors have for Meta stock, and shareholders will weigh dilution against the compute it buys. The size of the raise suggests Meta expects its AI spending to keep rising.
