Meta Platforms Inc. plans to raise at least US$25 billion via a multi-tranche bond offering, according to people familiar with the matter. The debt sale is intended to fund the company’s expansive AI infrastructure push and global data-centre build-out. Meta aims to issue bonds across maturities ranging from five to 40 years, with initial yields about 1.4 percentage-points above U.S. Treasuries for the longest tranche. The move underscores the growing tilt of major tech firms toward debt financing as equity valuations and cap-ex demands soar.