Nvidia to put $3 billion into Meta's share sale as Muse partnership grows

Nvidia will invest $3 billion in Meta’s equity offering, the company said in a press release dated Monday, October 26. The money comes attached to a wider deal: the two companies are expanding their work on Meta’s Muse family of AI models and the hardware that runs them.¹

The investment sits inside a much larger raise. Meta said it plans to collect a total of $95 billion for AI infrastructure, starting with $35 billion in underwritten public equity offerings and followed by $60 billion through an at-the-market program.² The initial $35 billion is made up of $22.5 billion in Class A shares and $12.5 billion in convertible depositary securities, and Meta later raised the ordinary share portion to $25 billion, with Class A shares priced at $625.³

Nvidia is not alone. AMD said it will put in $1 billion, which brings the combined Nvidia and AMD total to $4 billion, as we reported earlier in Nvidia and AMD put $4 billion into Meta as AI spending climbs.² Meta’s announcement named Nvidia, AMD and Broadcom as interested in buying up to $5 billion in shares.²

The hardware side is the other half of the arrangement. Meta intends to expand its use of Nvidia’s Vera Rubin platform and Vera CPUs, and to deploy Spectrum-X Ethernet networking and BlueField-4 components to improve network efficiency and throughput.¹ The stated goals are performance per watt and total cost of ownership.¹ The companies are also weighing Nvidia’s OpenShell reference architecture for safer deployment of AI agents, and Sentry for monitoring agent behavior.¹

AMD’s piece is separate but similar in shape. The company said its Helios racks are running at Meta and its EPYC processors are powering Muse.²

On the product, Meta says Muse and its agents, which run on Nvidia infrastructure, have posted frontier-level benchmark results and rising consumer downloads since launch.¹ Those are company claims. No download totals or independent comparisons were supplied.³

The strategic picture is a chip supplier funding a customer that buys its chips. Nvidia has also invested in OpenAI, Anthropic, Intel and xAI, and has joined 121 investment rounds this year, up from 13 in 2022, according to Dealroom.² AMD has been in 25 rounds in 2026, up from two in 2022.²

Market reaction on Tuesday was muted. AMD rose 3%, Nvidia was flat and Meta fell 1%.²

Nvidia’s own release carries the usual caveat: its forward-looking statements note that the proposed investment is subject to anticipated completion and closing conditions.¹ The outlook is that the share offering will settle first, and the hardware deployments will show up later in Meta’s spending.

Our read: Nvidia is now selling Meta the chips and buying a slice of the company that pays for them. That is a tidy loop, and it is legal and common enough this year that two chipmakers did it in the same week. The $3 billion is small next to a $95 billion raise. What it buys is a seat at the table while Meta decides where the rest goes. The thing to watch is whether Muse’s download numbers ever get published in a form someone can check.

Footnotes

1. NVIDIA Newsroom, “NVIDIA and Meta to Expand Collaboration on Muse and Muse Family of Models Amid Robust Growth”. Retrieved October 29, 2026. ↩ ↩² ↩³ ↩⁴ ↩⁵ ↩⁶

2. CNBC, “Nvidia, AMD to invest $4 billion in Meta as tech giants deepen AI partnership”. Retrieved October 29, 2026. ↩ ↩² ↩³ ↩⁴ ↩⁵ ↩⁶ ↩⁷

3. TechRadar, “Nvidia is set to work even closer with Meta’s slightly creepy Muse AI models — and it’s even investing $3bn in Meta to show its support”. Retrieved October 29, 2026. ↩ ↩²