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Meta hires ex‑Goldman exec to fund AI push

Financial Times Companies •
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Meta has tapped former Goldman Sachs executive Dina Powell McCormick to steer its funding strategy for artificial‑intelligence projects. Powell McCormick, who left the investment bank in 2022, joins a senior team tasked with converting the social‑media giant’s massive data assets into revenue streams. Her Wall Street pedigree signals Meta’s intent to tap sophisticated capital markets sources beyond advertising, global capital.

The move follows Meta’s recent $13 billion AI‑related spend, which has pressured margins as the company pivots from its core social platforms to generative‑AI services. By enlisting a finance veteran, Meta hopes to structure debt, equity or hybrid instruments that monetize its AI models while preserving cash flow. Investors will watch how the new financing mix impacts the firm’s valuation, significantly.

Wall Street analysts see Powell McCormick’s recruitment as a signal that Meta will aggressively seek non‑dilutive funding, potentially leveraging its cloud and advertising infrastructure as collateral. The strategy could lower the cost of capital for AI R&D, giving Meta a competitive edge over rivals such as Google and Microsoft. The immediate effect will be heightened scrutiny of any new debt issuances.