Three of the biggest names in AI are moving to raise fresh capital at once, as the money available for artificial intelligence ventures grows harder to secure.

Meta Platforms announced plans to raise as much as $95 billion in three steps: $22.5 billion in Class A common stock priced at $642.62 per share, another $12.5 billion in preferred shares, and $60 billion through an at-the-market offering of Class C shares no sooner than next year. The company had disclosed plans for the non-voting Class C shares only last week.

Elon Musk said SpaceX has closed a $40 billion debt financing deal for graphics processing units, adding to its role as an AI infrastructure company alongside its rocket and satellite business. Anthropic filed its S-1 with the Securities and Exchange Commission, with share pricing and the initial raise to be disclosed later.

The rush comes as Wall Street grows more selective about which AI companies it will back. CoreWeave, a cloud provider at the center of debate over how many such "neoclouds" — smaller cloud companies built around AI compute — the market can support, has fallen 60% from its year-to-date high of nearly $139 on May 6 and hit a 52-week low just above $51 on Monday.

Musk wrote on X that debt markets have almost entirely shut off access to money for companies without substantial revenue independent of AI data centers, predicting "guppy-level death and consolidation" among more than 200 neoclouds. Bulls say demand justifies the compute buildout; bears warn of misallocated capital and profits that may never arrive.

Source: CNBC