AI
AI giants turn to massive debt to finance tech race
[ad_1]
Meta raised $30 billion in debt on Thursday, as tech giants flush with cash turn to borrowing to finance the expensive race to lead in artificial intelligence.
On a day when Facebook-parent Meta’s share price plunged on the heels of disappointing quarterly earnings, demand for its bonds was reportedly four times greater than supply in a market keen to hold the social networking titan’s debt.
The $30 billion in bonds scheduled to be repaid over the course of decades is intended to provide money to continue a breakneck pace of AI development that has…
[ad_2]
Source link
Continue Reading