Meta Platforms is reportedly in the final stages of arranging a $29 billion financing package—$3 billion in equity and $26 billion in debt—to fund its aggressive US-based artificial intelligence data center expansion. Spearheaded by CEO Mark Zuckerberg, the initiative could see Meta investing up to $65 billion into AI infrastructure in 2025 alone. Major players including Apollo Global Management, KKR, and Brookfield are at the forefront of these discussions, signaling a broader shift in how tech giants are funding next-generation infrastructure. The capital structure reflects a strategic preference for debt over equity, minimizing dilution while positioning Meta for long-term AI-driven returns.

Meta Targets $29 Billion in Funding for AI Data Centers

Meta Platforms, the parent company of Facebook, Instagram, and WhatsApp, is advancing talks with leading private equity firms to raise $29 billion in capital to fund its expansive AI data center strategy across the United States, according to reporting by the Financial Times. The proposed funding package comprises $3 billion in equity and a substantially larger $26 billion in debt, aimed at powering CEO Mark Zuckerberg’s vision for an AI-augmented future.

The funding push aligns with Zuckerberg’s broader objective to inject up to $65 billion into AI infrastructure this year. These investments underscore Meta’s commitment to positioning itself as a dominant player in the global AI arms race, where compute capacity, data handling, and model training require immense capital and advanced technological infrastructure.

Apollo Global Management: Core Financier in the Deal

Apollo Global Management has taken center stage as the primary player in Meta’s financing effort. The alternative investment powerhouse—managing approximately $598 billion in assets—is leading negotiations to provide a large chunk of the proposed funding, leveraging its established strengths in flexible capital deployment across credit, real assets, and private equity.

Apollo’s role in the Meta deal is not a coincidence. The firm has made AI a central theme in both its internal operations and investment portfolio. From embedding AI into its decision-making processes to building out physical infrastructure supporting AI workloads, Apollo’s alignment with Meta’s mission is strategic and deliberate.

Earlier this year, in February 2025, Apollo was reported to be in talks for an even larger $35 billion financing plan for Meta’s data centers. While that number has been adjusted downward, the collaboration remains one of the most significant private credit arrangements in recent history. Apollo’s broader industry partnerships—with JPMorgan Chase and Goldman Sachs—further amplify its ability to mobilize large-scale capital for AI-focused ventures.

KKR and Brookfield: Strategic Infrastructure Partners

Alongside Apollo, investment heavyweights KKR and Brookfield Asset Management have also committed to Meta’s AI initiative, bringing a wealth of experience in infrastructure financing and digital asset management.

Brookfield has emerged as one of the most aggressive investors in data infrastructure globally. Recent acquisitions of Compass Datacenters and Data4 have bolstered its digital footprint, while a planned $10 billion hyperscale data center in Strangnas, Sweden, is expected to generate over 1,000 permanent jobs. Brookfield’s ability to integrate renewable power solutions, real estate, and operational management into turnkey infrastructure offerings makes it an ideal partner for Meta.

KKR, too, brings decades of private equity and infrastructure deal-making experience. Its involvement signals institutional confidence in Meta’s long-term AI roadmap and further legitimizes the project as a transformative bet on AI-led computing.

This collaborative financing model—marrying private equity sophistication with hyperscaler demand—is becoming the norm. Similar arrangements have already materialized between investors and AI-focused companies like OpenAI and CoreWeave, both of which secured multibillion-dollar credit lines for compute expansion.

Meta’s Capital Structure: A Strategic Tilt Toward Debt

Meta’s decision to structure the financing with a heavy lean toward debt—$26 billion of the $29 billion total—is both tactical and telling. This 1:9 equity-to-debt ratio allows the company to preserve shareholder value by limiting equity dilution while taking advantage of the prevailing appetite for private credit in large-cap deals.

This model mirrors capital strategies recently adopted by Microsoft, which announced plans to spend $80 billion on its own AI data center initiatives in fiscal 2025. The parallels reflect a broader industry shift where major tech firms are using balance sheet flexibility and low-cost debt to fund massive AI capital expenditures.

For Meta, this structure signals a firm belief in the high-yield potential of AI infrastructure. By minimizing equity issuance, the company demonstrates confidence that future revenues from AI-enabled services and products will be more than sufficient to cover debt obligations and generate long-term profitability.

Broader Implications: The Privatization of AI Infrastructure

Meta’s financing model illustrates a broader movement: the privatization of AI infrastructure funding. As public markets grow wary of speculative tech investments, institutional capital—particularly private credit and equity—is stepping in to fill the void. This trend empowers tech companies to pursue aggressive AI expansions without navigating volatile equity markets or relying solely on internal cash flows.

Moreover, partnerships between hyperscalers and alternative asset managers are shaping a new AI financial ecosystem. These deals are not only funding infrastructure but also accelerating innovation cycles, job creation, and competitive positioning in global AI development.

Brookfield’s push to create end-to-end infrastructure—from land acquisition to renewable energy integration—signals a future where AI and sustainability coalesce. Meanwhile, Apollo and KKR’s entry into high-capital, low-margin tech projects underscores their evolving investment thesis, increasingly centered on scalable digital economies.

A High-Stakes Bet on AI-Driven Scale

Meta’s $29 billion capital raise isn’t just a headline—it’s a directional statement about the company’s future. By teaming up with financial titans like Apollo, KKR, and Brookfield, Meta is executing a capital strategy that is both aggressive and calculated. The sheer scale of investment underscores the enormous resources required to dominate in AI, but it also highlights the high-conviction bet that this infrastructure will yield exponential returns.

For investors, analysts, and policymakers, the Meta financing plan offers a glimpse into the next chapter of global tech evolution: one where AI supremacy is measured not only by model sophistication but by infrastructure dominance—and where capital efficiency becomes as critical as computational power.