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Dan Milmo and Graeme Wearden
· 1 min read
World NewsThe Guardian: AI
Meta plans $95bn stock offering to help cover AI expansion
Tech company announces two-part fundraising after Elon Musk warns hundreds of AI startups face collapse
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Mark Zuckerberg’s Meta has announced plans for a $95bn (£71bn) fundraising to cover its AI expenditure, even as Elon Musk warned that funding for smaller players in the sector was drying up.
The owner of Facebook, Instagram and WhatsApp is a leading investor in AI and is ploughing multibillion-dollar sums into datacentres, the central nervous systems of the technology.
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This story was published by The Guardian: AI and written by Dan Milmo and Graeme Wearden. SyncAI.news shows a preview; the complete article is on the publisher's site.
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