Meta: AI deals, investors and valuation

Five-tranche issue with orders of up to $58 billion; S&P moves the outlook to negative due to high capex.

Nvidia subscribes to $3 billion of the share offering with which Meta raises $95 billion for AI (AMD $1 billion); in return Meta expands Vera Rubin and Vera CPUs.

BlackRock vehicle (Global Infrastructure Management and HPS, 80%) places $12.3 billion of bonds for Meta's campus in Texas; Meta keeps 20%.

Meta will build its first Canadian data centre, a 1 GW AI campus in Sturgeon County north of Edmonton worth about C$13B, powered by a Pembina gas plant.

Multi-generation agreement: Qualcomm will supply Meta with data center CPUs (Dragonfly C1000), in production from the second half of 2028.

Meta signs a multi-year, multibillion-dollar contract to use tens of millions of AWS Graviton5 CPU cores for AI agents.

New bond issue to fund AI infrastructure spending (2026 capex up to $145 billion). Approximate date: April 2026.

Meta extends MTIA chip development with Broadcom: more than 1 GW initially and multiple gigawatts over time; Hock Tan leaves Meta's board and becomes an adviser.

Expansion through December 2032, with first Vera Rubin installations; Meta's total commitments to CoreWeave about $35 billion.

Arm sells its own chip for the first time, the AGI data center CPU: Meta is the main customer, with commitments also from OpenAI, Cerebras and SK Telecom.

Five-year contract: $12 billion of dedicated capacity from 2027 (Vera Rubin) and up to $15 billion from future clusters.

The Information: multiyear deal to rent TPUs on Google Cloud; talks also under way to buy TPUs directly from 2027.

Multiyear deal for Instinct GPUs (including a custom version of the MI450) and Venice CPUs; Meta receives a warrant for up to 160 million AMD shares tied to deliveries.

As with OpenAI, AMD grants Meta warrants at $0.01 on up to 160 million shares, tied to purchases of the 6 GW of GPUs.

Multiyear partnership: Meta buys millions of Blackwell and Rubin GPUs, adopts Grace CPUs at large scale (Vera from 2027) and Spectrum-X networking. No amount disclosed.

Part of the 6.6 GW package by 2035: power from plants in Ohio and uprates in Pennsylvania.

Meta helps fund two Natrium units (up to 690 MW from 2032) with rights to six more reactors.

Partnership for up to 1.2 GW in Pike County (Ohio), from 2030.

Meta announces in December 2025 the acquisition of AI agent Manus for about $2-3 billion. On 27/04/2026 China bans the deal and in June Meta moves to unwind it.

First five-year AI capacity contract between Meta and Nebius.

One of the largest corporate issuances ever, to fund AI data centers.

Joint venture for the Hyperion campus in Louisiana: Blue Owl 80%, Meta 20%. Debt sold to Pimco and others (A+ rating, 6.58% yield); Meta receives ~$3 billion.

PIMCO is the lead investor (about $18 billion) in the $27.3 billion of 6.581% bonds issued by Beignet Investor, the off-balance-sheet vehicle for Meta's Hyperion data center in Louisiana.

BlackRock-managed funds buy over $3 billion of the Beignet Investor bonds financing Hyperion, Meta's AI campus in Louisiana.

AI compute capacity contract through December 2031, with an expansion option.

Oracle is negotiating a multi-year deal worth about $20 billion to provide compute to Meta to train and serve its models.

Meta Superintelligence Labs signs a license for Midjourney's aesthetic technology for future image and video models, with collaboration between research teams. It is not an acquisition.

Six-year contract for Google Cloud servers, storage and networking to support Meta's AI.

Meta acquires a stake in Nat Friedman and Daniel Gross's venture fund NFDG and hires both for Meta Superintelligence Labs. The size of the stake is not known.

Meta takes a 49% non-voting stake in Scale AI for $14.3 billion (valuation above $29 billion); founder Alexandr Wang moves to Meta. Proceeds to be distributed to shareholders and employees.

Meta signs a 20-year contract for power from Constellation's Clinton nuclear plant (Illinois), starting 2027: Meta's first nuclear deal.