A Message From Porter & Company
I never thought I’d see this again…
I thought what happened 25 years ago was a once- in-a-lifetime event… but how wrong I was… because a quarter of a century later it’s happening again… and it’s about to upend everything.
For those who understand what’s unfolding, I believe this could be one of the greatest wealth-building phenomena of their lives.
But for those who bury their head in the sand… this change threatens to wipe out years of investment returns.
Here’s the full story:
25 years ago, I started telling friends, family, and anyone who would listen about an unprecedented societal shift that was barreling down on us.
I’d discovered that a new technology was about to unleash massive, almost unimaginable, changes in America.
I likened the impact to that of the railroad boom… the Industrial Revolution… and the rise of personal computing.
At the time, I was working as an investment analyst for an elite research group, but my colleagues and bosses refused to listen to me.
No matter what I said, they simply would not acknowledge the sands shifting beneath their feet.
The legendary Dr. Kurt Richebacher – one of the world’s leading Austrian economists – even called me and my ideas “radical.”
But I was certain this new technology would trigger a transformation that was simply unfathomable to most people and those on the frontier could reap financial returns unlike any the world had ever seen before.
So, I decided to put my entire career – not to mention every cent I had – on the line to spread the story myself.
I left my job as a research analyst, went home to my third-floor apartment in one of Baltimore’s worst neighborhoods, and with a borrowed laptop I wrote my first major financial prediction
In a report that was read by more than 100,000 people… I explained how the endless miles of new fiber optic cables being laid was creating a new railroad across America.
And that I believed this new “railroad” was going to upend the telecommunications industry and pave the way for a new internet economy.
I also warned it would decimate some of America's most dominant companies like AT&T.
At the time, this was an outlandish idea, with analysts calling AT&T “dominant”, “unstoppable”, and “the giant that no other company can topple.”
But those who were willing to open their minds to my so-called “radical” ideas were not only able to sell these companies before they collapsed…
They also had the chance to get in early on the firms that would go on to command this new internet economy:
Amazon, Adobe, Qualcomm, SunMicrosystems, Uniphase, Texas Instruments, and many others.
While these are household names now, when I first recommended them in the late ‘90s, they were complete unknowns.
Since then, long-term readers will know that I’ve issued a number of other predictions – and while I’m not always right – many of them have come to pass.
Now, I’m coming forward with a new prediction that I believe could be the most important financial and economic story of the next several years.
Both for the good and the bad.
Because as I recently told my subscribers:
“This is the largest infrastructure build-out in America since the railroad boom. You know this will change your life and the lives of all Americans, in many ways.
You know fortunes will be made, fortunes measured in trillions of dollars.
But what you don’t know is: most investors are about to lose everything.”
I’m not talking about quantum computing, augmented reality, or the blockchain. I’m talking about the second wave of artificial intelligence.
You see, right now, there is a new railroad being built.
Hundreds of billions of dollars a year are going into AI data centers – computers the size of cathedrals, drawing electricity measured in gigawatts, rising out of farmland in Ohio, Wyoming, and Texas.
But just as we saw during the railroad boom and the fiber-optic boom, the "builders" are going to get completely crushed by their own infrastructure costs.
Worse yet because this colossal infrastructure build is triggering an efficiency shock that is driving the cost of compute down to near zero… the margins of major software and AI tech darlings could collapse.
So the question is not who is building the data centers. The question is: Which industry can absorb almost unlimited, near-free computing power and still defend its prices?
We have found the answer.
It’s a completely abandoned sector of the market that represents the largest computational puzzle on earth.
More importantly, it is the only industry where the government hands you a legal, federally enforced monopoly to protect your product for decades.
I believe this sector is about to absorb the capex of the AI boom, and it could be among the best-performing sectors of the stock market… the next Mag7.
I’ve recorded a new step-by-step broadcast outlining exactly what is happening, and exactly where this capital is rotating.
During the broadcast, I even give you the name and ticker symbol of my #1 large-cap stock to buy right now for this second wave.
So click here to watch my Ignition Point event immediately.
Good investing,
Porter Stansberry
Featured Content from MarketBeat Media
Meta's $100 Billion AI Financing Plan Has a Catch for Existing Shareholders
Submitted by Leo Miller. Originally Published: 11/4/2026.
Key Points
- Meta Platforms could raise more than $100 billion through equity offerings, including common and preferred stock, to fund its AI buildout.
- The combined offerings could cumulatively dilute existing shareholders by nearly 6%, though Meta's new Class C shares preserve Mark Zuckerberg's voting control.
- Investor demand has been strong so far, with the $25 billion Class A offering five times oversubscribed and backing from Nvidia and AMD.
- Special Report: A free stock pick, from me to you
Meta Platforms (NASDAQ: META) has officially become the latest AI hyperscaler to turn to equity offerings to fund its AI buildout.
In total, the company could raise more than $100 billion through equity financing, including potential additional proceeds from underwriters’ options.
The good news is that investor demand for Meta’s initial offerings has been exceptionally strong, demonstrating the company’s ability to attract substantial capital.
The bad news is that issuing new shares can dilute existing shareholders’ ownership stakes.
At this point, the potential dilution is relatively limited, but it could become significantly larger over time if Meta follows through with its broader financing plans.
Breaking Down the Dilution From Meta’s Equity Offerings
Meta has priced $25 billion worth of its Class A common stock at $625 per share, or 40 million shares. Before the offering, Meta had approximately 2.56 billion shares outstanding. Once the offering settles, it would dilute existing shareholders by around 1.5%.
Meta has also priced $12.5 billion worth of mandatory convertible preferred stock, which would add to the dilution once those shares convert into common stock.
The company also plans to issue a new share class: Class C common stock. This move, in and of itself, will not be dilutive because Meta plans to issue a stock dividend—shares paid to investors rather than cash.
Investors will receive one share of Class C common stock for each outstanding share of Class A common stock and Class B common stock, leaving their overall ownership percentages unchanged.
However, the company subsequently intends to offer up to $60 billion worth of Class C common stock, which would be dilutive. If Meta used the entire $60 billion program, it would dilute existing shareholders by approximately 3.6%, assuming the company’s valuation remains unchanged.
At $625 per share, Meta’s market capitalization would be around $1.6 trillion before these offerings. Together, Meta’s announced and proposed offerings total approximately $97.5 billion, potentially resulting in cumulative shareholder dilution of nearly 6%. The offerings could also be worth more than $100 billion if underwriters exercise their over-allotment options, increasing dilution but also providing Meta with more cash. The amount of dilution could also vary based on future offering prices and the prices at which the preferred shares convert into common stock.
Meta Looks to Keep Zuckerberg in Control Through Class C Shares
A key reason for creating Class C shares is to allow Meta to raise cash without risking CEO Mark Zuckerberg’s control of the company, since the Class C shares have no voting rights. Issuing these shares would therefore allow Meta to raise additional equity capital without diluting Zuckerberg’s voting power.
At the beginning of October, Zuckerberg held approximately 60.6% of Meta’s voting power, comfortably above the 50% threshold for majority control. Class C shares give Meta an important tool for preserving that control as the company pursues additional financing.
Meta’s Offerings See Strong Investor Demand
Meta’s $25 billion Class A offering was reportedly five times oversubscribed. In other words, investor orders were around five times greater than the size of the offering, sending several encouraging signals for the company.
First, the strong demand suggests Meta could access significantly more equity funding in the future, and that demand for its potential Class C offerings could also be strong. This could support Meta’s ability to continue increasing its AI capital expenditures (CapEx). Meta’s history of raising its CapEx each year suggests it believes this is the best strategy for its business, even if some investors disagree.
The offering’s oversubscription also indicates that a substantial number of investors have confidence in Meta’s AI strategy. Its mandatory convertible preferred stock offering was also multiple times oversubscribed.
However, strong demand for Meta’s latest offerings does not guarantee the same response in the future. If investors become less confident in Meta’s AI strategy over time, demand for future offerings could weaken.
Two of Meta’s designated cornerstone investors have publicly confirmed their planned investments. NVIDIA (NASDAQ: NVDA) plans to invest $3 billion, while Advanced Micro Devices (NASDAQ: AMD) has committed to investing $1 billion. The third cornerstone investor, Broadcom (NASDAQ: AVGO), has not publicly confirmed whether it will participate.
Will Meta’s AI Investments Justify the Shareholder Dilution?
Potential dilution of nearly 6% would be meaningful for existing shareholders, although its ultimate impact will depend on the returns Meta generates from the capital raised.
Still, Meta has now opened the door to issuing equity to fund its AI CapEx, with analysts expecting the company’s spending to rise significantly next year.
Looking ahead, it will be important to monitor the size of Meta’s future equity issuances and, in turn, how dilutive this strategy could become.
Over time, investors will want to see Meta’s AI initiatives start to pay for themselves by contributing to, rather than detracting from, its free cash flow.
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