Meta begins blue-chip bond sale as market volatility eases

LONDON, ENGLAND - OCTOBER 29: In this photo illustration, three screens display the splash page for the Meta page on the facebook website on October 29, 2021 in London, England. The Facebook company, which owns Facebook, Whatsapp and Instagram, has announced that it is rebranding, changing it's name to"Meta". -- Meta Platforms Inc. is selling bonds in the U.S.

“Meta’s sale is a sign that their investment in AI is not slowing down and is likely to increase over the next couple of years,” Robert Schiffman, a Bloomberg Intelligence analyst, said in a phone interview. “Meta has an ample amount of cash, but it’s a more efficient use of capital to borrow money in the bond market”

The debt raise follows the company’s better-than-expected sales report for the second quarter on Wednesday, signaling that the company’s investments in artificial intelligence are helping it sell more targeted ads. Shares ended the week higher, snapping a three-week losing streak.

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