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Meta raised $30 billion in debt on Thursday, as tech giants flush with cash turn to borrowing to finance the expensive race to lead in artificial intelligence.
On a day when Facebook-parent Meta’s share price plunged on the heels of disappointing quarterly earnings, demand for its bonds was reportedly four times greater than supply in a market keen to hold the social networking titan’s debt.
The $30 billion in bonds scheduled to be repaid over the course of decades is intended to provide money to continue a breakneck pace of AI development that has…
