The proposed deal follows a $30 billion bond issuance last year, the largest in the company’s history. With this new development, Meta is again turning to debt markets rather than relying only on its cash reserves.

A day earlier, Meta Platforms increased its 2026 capital spending forecast by $10 billion. It now expects to spend between $125 billion and $145 billion this year. The capital will go into data centres, custom chips, and energy systems needed to support AI tools and large-scale model training.

Across the industry, spending is increasing fast, with Big Tech companies expected to invest more than $700 billion in AI infrastructure this year.

Meta’s new bond sale is expected to include up to six tranches. One portion could mature in 2066. Early pricing discussions suggest the longest-dated notes may offer a yield of up to 1.8% points above US Treasuries, based on people familiar with the matter.

The company has not responded to requests for comment.

S&P Global has rated the planned debt as investment-grade and kept a stable outlook on the company. Its analysts said they expect Meta’s leverage to remain “well below” the downgrade threshold for at least two years.

Still, they noted that the scale of AI spending is beginning to affect the company’s credit profile.

To support this change, Meta has reduced spending on its metaverse unit, which has recorded losses for several years. At the same time, the company is preparing for job cuts.

Reports reveal plans to reduce its workforce by 20% or more, with an initial round affecting about half of that set for May 20.

Meta is not alone in raising funds this way. Other technology firms have also issued large amounts of debt this year.

Amazon raised about $54 billion across US and European markets in March, Alphabet has issued roughly $32 billion in dollar and euro-denominated notes, while Oracle completed a $25 billion bond sale that drew strong demand.

A source familiar with the matter said the job cuts were carried out on Wednesday and affected units including Reality Labs, social media teams and recruiting.

The scale is smaller than earlier plans, but it follows internal discussions about deeper reductions.

Earlier in the month, Reuters reported that Meta had considered larger layoffs that could affect 20% or more of its workforce. Those plans have not been fully carried out, but they are still part of longer-term restructuring discuss.

In a statement, a Meta spokesperson said, “Teams across Meta regularly restructure or implement changes to ensure they’re in the best position to achieve their goals. Where possible, we are finding other opportunities for employees whose positions may be impacted.”

The company employed nearly 79,000 people as of December 31, according to its latest annual filing.

With these changes tied to high costs, Meta is increasing spending on artificial intelligence (AI), with total expenses projected at between $162 billion and $169 billion in 2026.

A large share of that budget will go into data centres, computing infrastructure and hiring specialised talent.

At the same time, the company is cutting back in areas that no longer sit at the centre of its plans. Reality Labs, which focuses on augmented and virtual reality, has recorded heavy losses in recent years.

Reports put those losses at about $16 billion between 2023 and 2025.

Now, attention has shifted, and Chief Executive Mark Zuckerberg has placed artificial intelligence at the core of the business, reducing the weight previously given to AR and VR projects.

The latest layoffs also touch sales, global operations and other support roles, according to earlier reports. Some affected employees, especially outside the United States, have been offered options to move into other roles or locations.

Meta is not alone in this direction. Other large technology companies have made similar decisions, cutting jobs in hardware and cloud units while increasing investment in AI.