Building the powerful AI of the future is incredibly expensive, and Meta is looking for new ways to pay the bills. The company announced it plans to offload $2 billion in data center assets, bringing in outside partners to help fund its massive AI infrastructure push. This is a major shift for a tech giant that has long been known for paying for its growth.
The plan was revealed in a recent quarterly filing, where Meta said it has set aside $2.04 billion worth of land and construction projects to be “held-for-sale.” The company expects to contribute these assets to a third party within the next year to co-develop the data centers.
CEO Mark Zuckerberg has laid out huge plans to invest hundreds of billions in building massive AI “superclusters,” and the company’s finance chief, Susan Li, recently confirmed they are looking for “significant external financing” to help make it happen.
This move comes as Meta continues to pour money into its AI ambitions. The company just raised its annual spending forecast to between $66 billion and $72 billion. Fortunately for Meta, its big AI bets are already paying off in its core advertising business. The company reported stronger-than-expected ad sales, which it says are being boosted by the same AI technology that is driving up its infrastructure costs.
