Meta priced $15 billion of senior notes in five tranches on November 3, according to its pricing term sheet, with coupons from 5.85% on 2031 notes to 7.50% on 2056 notes. Bloomberg reported orders peaked at about $58 billion and said the deal is part of a cross-border financing of at least $20 billion that includes a euro debut.
The announcement follows S&P Global Ratings shifting the outlook on Meta from AA- stable to AA- negative because of questions surrounding large capital outlays and negative free cash flow.
The firm disclosed last week an overall target of $95 billion to support AI work, with $35 billion via underwritten public equity offerings and $60 billion through an at-the-market program.
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OpenAI has cut its funding target by $10 billion and now seeks about $20 billion at a $1.25 trillion valuation, the Financial Times reported. The round has not closed.
Cohere announced the initial close of a Series E round targeting up to CAD $7 billion, which would value Cohere at CAD $35.7 billion if fully raised. The companies of Schwarz Group lead the round. Cohere calls it the largest private raise by a Canadian tech company.
fal raised $1.3 billion in a Series F at a $16 billion valuation, led by Bessemer Venture Partners with Nvidia, Sound Ventures, HOF Capital and T. Rowe Price participating, Bloomberg and TechCrunch reported. Bessemer's Talia Goldberg joins fal's board.
According to reports, Hex has raised $100 million in a Series D at a $1.2 billion valuation while unveiling Hex 4.0. The funding gives the data platform resources to expand teams and push AI-agent workflows to more than 2,500 customers.
The New York Times sued Brave Software, alleging the browser bypasses paywalls and sells news content to AI companies without permission. The suit seeks an injunction and restitution of profits the publisher claims exceed $100 million.
