Nvidia to invest $3 billion in Meta as tech giants deepen AI partnership

Nvidia has said it will invest $3 billion in Meta after the social media and AI giant announced plans to raise $95 billion to support its investments in artificial intelligence infrastructure.

Meta on Monday said it would initially raise $35 billion in underwritten public equity offerings, before raising an additional $60 billion with an at-the-market program.

The announcement said Nvidia, Advanced Micro Devices, and Broadcom were interested in purchasing up to $5 billion in shares.

Nvidia announced its investment on Tuesday, adding that Meta would expand Vera Rubin and Vera CPU deployment, and that the two companies would deepen their partnership on Muse, the social media giant's AI agent that launched last month.

"AI agents represent a new computing paradigm — software that understands our goals, reasons, uses tools and gets work done on our behalf," said Nvidia CEO Jensen Huang in a statement.

"This changes how we use computers, from operating applications to working with intelligent agents."

"We're excited to keep working with NVIDIA to deliver the best personal agents and frontier models for billions of people," said Meta CEO Mark Zuckerberg.

Both companies' shares were flat in premarket trading on Tuesday.

Nvidia has been rapidly building up stakes in companies powering the AI boom, investing in OpenAI, Anthropic, Intel and XAI.

The chip giant has participated in 121 investment rounds so far this year, according to Dealroom, up from just 13 in 2022.