Meta is in advanced talks with leading private credit firms including Apollo Global Management, KKR, Brookfield, Carlyle, and Pimco, to raise up to $29bn to finance its aggressive build-out of AI-focused data centres across the US, according to a report by the Financial Times.
The report cites unnamed sources familiar with the matter as revealing that the social media giant aims to secure approximately $3bn in equity alongside $26bn in debt.
The company is actively debating how best to structure the landmark debt raise, which would rank among the largest private fundraisings of its kind, and may consider raising even more capital. Meta is working with Morgan Stanley to explore options that could enhance the tradeability of the debt, a key consideration given the deal’s scale.
Meta CEO Mark Zuckerberg has intensified efforts to position the company as a leader in AI following underwhelming performance of its Llama 4 language model and delays in flagship AI products. Recent strategic moves include a $15bn investment in AI data labelling firm ScaleAI and the recruitment of top AI talent from OpenAI, with reports of substantial sign-on bonuses.
The company has also increased its full-year capital expenditure guidance to as much as $72bn, citing data centre investments and rising infrastructure costs. In a notable development, Meta inked a deal to source nuclear power for its AI operations, marking its first such energy commitment.
Private credit firms have similarly backed AI infrastructure projects for other market leaders. Blue Owl recently agreed to finance a $15bn data centre joint venture with OpenAI, which is also partnering with SoftBank and Oracle on a $500bn AI data centre venture.
