Meta 正寻求通过一项跨境债券发行筹集至少 200 亿美元（约 256 亿新元），其中包括其首笔欧元债券交易，以此测试投资者对其进一步增加人工智能支出的接受程度。
Meta is seeking at least US$20 billion from a cross-border bond sale, including its first euro deal, as it tests investor appetite for more AI spending. The company has asked Citigroup and Morgan Stanley to hold investor calls, but no final decision has been made and the size could rise if demand is strong.
知情人士透露，该公司已委托花旗集团和摩根士丹利于 11 月 2 日和 3 日举行投资者推介电话会议，但尚未做出最终决定，若需求强劲，发行规模可能会上调。这些人士因未获授权公开发言而要求不具名。
Tech borrowing costs are rising as investors worry about AI spending returns; Meta is also raising cash through major stock sales and a possible US$60 billion share programme. AI generated CALIFORNIA – Meta Platforms is eyeing at least US$20 billion (S$25.6 billion) from a potential cross-border investment-grade bond offering as the tech giant gauges investor interest in its debt amid growing scepticism about the pace of spending on artificial intelligence.
这将是 Meta 半年来的首次大规模债务发行，也是其首次发行欧元债券，此举效仿竞争对手 Alphabet 和 Amazon，实现融资货币的多元化。该公司曾于 10 月在欧洲进行非交易路演，与投资者进行沟通。
No final decision has been made on the offering, and the size may still grow depending on investor demand, according to people familiar with the matter.
摩根士丹利和花旗集团的代表均拒绝就潜在发行规模置评。Meta 暂未立即回应置评请求。
The firm has asked Citigroup and Morgan Stanley to hold investor calls on Nov 2 and Nov 3, the people said, asking not to be identified because they are not authorised to speak publicly.
自 2025 年以来，科技巨头们已涌入市场，通过借贷筹集数千亿美元资金，用于建设新数据中心和采购芯片，这引发了市场对这些支出能否带来回报的质疑。
That would mark Meta’s first major debt sale in six months and its debut offering in euros, as it follows rivals Alphabet and Amazon in diversifying its funding across different currencies. The company spoke to investors in Europe in October as part of a non-deal roadshow.
几家美国科技巨头的债务违约保护成本已升至历史新高，反映出投资者的不安情绪日益加剧。
Representatives for Morgan Stanley and Citigroup declined to comment on the potential deal size. Meta did not immediately respond to requests for comment.
知情人士补充称，Meta 此次潜在的美元债券发行期限将涵盖 5 年至 30 年，而欧元债券发行期限将介于略超 4 年至略超 38 年之间。
Tech giants have flooded the market with hundreds of billions of dollars in borrowing to fund new data centres and chip purchases since 2025, raising questions about whether the spending will pay off.
该公司上一次进入高等级债券市场是在 4 月，当时通过一笔交易筹集了 250 亿美元，投资者需求在高峰时达到 960 亿美元。
The cost to protect the debt of several US technology heavyweights against default has hit fresh record highs, reflecting growing investor unease. Meta’s potential dollar bond sale will span maturities of five to 30 years, while the euro offering will range from just over four years to just over 38 years, the person added.
此后，投资者对 AI 相关发行的胃口已有所降温，买方要求更多让步才愿承担风险。
The company last tapped the high-grade bond market in April, when it raised US$25 billion through a deal that attracted US$96 billion of investor demand at its peak.
11 月 2 日，Alphabet 为推进一笔 60 亿欧元（约 86 亿新元）的债券交易，向投资者提供的收益率远高于 2026 年早些时候的一笔交易。
Appetite for AI-related offerings have since faded, with buyers demanding more concessions to take on the risk. On Nov 2, Alphabet offered investors considerably higher yields to push through a €6 billion (S$8.6 billion) bond deal than in a transaction earlier 2026.
与此同时，Oracle 也在推销更高的新发行让步，以在美元债券市场筹集 100 亿美元。
Meanwhile, Oracle is also pitching elevated new-issuance concessions to raise US$10 billion in the US dollar bond market.
作为为其 AI 野心融资努力的一部分，Meta 还在进行史上最大规模股权发行之一。
Meta is also staging one of the largest equity offerings in history as part of efforts to finance its AI ambitions.
该公司上周为 250 亿美元普通股定价，并通过优先股发行筹集了 125 亿美元。
The firm last week priced US$25 billion of common stock and raised US$12.5 billion from an offering of preferred shares.
它还计划通过“随时上市”股票销售计划筹集高达 600 亿美元，该计划允许公司定期在公开市场出售股份。彭博社
It also plans to raise as much as US$60 billion through an at-the-market share sale programme, which allows companies to periodically sell shares in the open market. BLOOMBERG