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The Marked Chart Wire · Business
Meta AI Spending
Meta sold $25 billion in US bonds on November 3, with 2056 maturities pricing 2.2 percentage points above Treasuries. The company also issued €9 billion in European debt as S&P lowered its credit outlook to negative.
Part of a series: Meta raises funds for AI infrastructure buildout
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Fireworks
Dave Wehner, Meta's former CFO, is moving to Fireworks to lead its financial operations. Fireworks is reportedly seeking new funding at a valuation between $30 billion and $40 billion.
Meta
Meta Platforms has launched a new share class that does not carry voting rights.
Meta Financing
The company sold five debt instruments with rates ranging from 5.85% to 7.50% and maturities through 2056. Underwriters bought an extra 6 million shares, bringing the total forward-sale agreement to 46 million units.
Sunrun
Sunrun revenue rose 51.7 percent to $1.1 billion in the third quarter, with earnings exceeding Wall Street expectations.
Berkshire Hathaway
Berkshire Hathaway reported a 5.8 percent drop in operating earnings to $12.7 billion, driven by weaker insurance results. The company's cash reserves reached a record $377.4 billion, while share buybacks increased to $9.6 billion.
Berkshire Earnings
Berkshire Hathaway reported lower third-quarter earnings due to underwriting losses and reduced investment income. The company simultaneously increased its share repurchase program.
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