Zuckerberg Is Selling $2 Billion Worth Of Assets

With a strategic goal.

Meta Platforms, owned by Mark Zuckerberg, has unveiled plans to sell $2 billion in data center assets as part of a strategy to raise money for AI infrastructure.

It was reported by Reuters.

The company earlier this week said it was exploring opportunities to work with financial partners to jointly develop data centers to help fund its huge capital expenditure for next year.

"We are exploring opportunities to work with financial partners to jointly develop data centers," Meta Chief Financial Officer Susan Lee said during a teleconference following the release of its financial results on Wednesday.

Although the company still expects to fund most of its capital expenditures with internal resources, some projects may attract "significant external financing," she said.

In its quarterly report released Thursday, Meta said it approved a plan in June to dispose of certain data center assets and reclassified $2.04 billion worth of land and construction in progress as "held for sale."

The assets were expected to be transferred to a third party over the next twelve months for joint development of data centers.

The total value of assets held for sale was $3.26 billion as of June 30, according to a financial statement.

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