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Meta raised $37.5 billion, then S&P cut its credit outlook to negative on $71 billion of 2027 cash deficits
S&P Global Ratings cut Meta's credit outlook to negative on Friday, saying Meta's ability to monetize its AI investments is "more limited than that of its peers." The verdict landed one day after Meta closed $37.5 billion of stock offerings, money for a buildout that turned its free cash flow negative for the first time since 2012.
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