According to a report from a British media outlet, Meta Platforms Inc. is contemplating an equity financing round, following the successful completion of an $85 billion share sale by Alphabet Inc. The news triggered a decline in Meta's stock price.

Similar to the parent company of Google, the social media giant requires capital to support its substantial investments in artificial intelligence infrastructure. The British media report, citing three individuals familiar with the matter, noted that Meta has not yet engaged banks and may ultimately decide against issuing new shares.

Following the report's publication, Meta's share price fell as much as 7% to $582.91. Meta did not immediately respond to requests for comment.