Write an article about
[BENGALURU] Meta Platforms is seeking to raise US$29 billion from private capital firms to build artificial intelligence (AI) data centres in the US, the Financial Times reported on Friday (Jun 27).
The Facebook-parent advanced discussions with private credit investors including Apollo Global Management, KKR, Brookfield, Carlyle and Pimco, the report said, citing people familiar with the matter.
Meta is looking to raise US$3 billion in equity and US$26 billion in debt, the report said, adding that the company is debating how to structure the debt raising and may also seek to raise more capital.
Such a fundraising comes at a time when Meta has doubled down its commitment to AI, including a US$14.8 billion investment in startup Scale AI.
Meta chief executive Mark Zuckerberg said in January the company would spend as much as US$65 billion this year to expand its AI infrastructure, seeking to strengthen its position against competitors OpenAI and Google in the race to lead the AI technology landscape.
Meta and Carlyle declined to comment, while Apollo Global, KKR, Brookfield and Pimco did not immediately respond to Reuters’ requests for comment.
BT in your inbox
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
Meta was working with its advisers at Morgan Stanley to arrange the financing, and it was considering ways that could make the debt more easily tradeable once it was issued, the FT report said.
Major tech companies are investing heavily to secure the vast computing power needed to run AI models, fuelling demand for specialised data centres that link thousands of chips into high-performance clusters.
Microsoft has planned a capital expenditure of US$80 billion in fiscal 2025, with most of it aimed at expanding data centres to ease capacity bottlenecks for AI services.
Bloomberg News reported in February that Apollo Global Management is in talks to lead a roughly US$35 billion financing package for Meta to help develop data centres in the US. REUTERS
in html format .Organize the content with appropriate headings and subheadings ( h2, h3, h4, h5, h6). Include conclusion section and FAQs section with Proper questions and answers at the end. do not include the title. it must return only article i dont want any extra information or introductory text with article e.g: ” Here is rewritten article:” or “Here is the rewritten content:”
