Meta to create a new class of shares to fund AI push
Meta is issuing a new class of non-voting shares to fund AI investments, acquisitions, and employee compensation, with trading starting in 2027.Summary
Meta announced in its third-quarter earnings report that it will create a new class of non-voting shares to fund its AI initiatives, potential acquisitions, and employee compensation. Trading of these shares is expected to begin in 2027. The company stated that the scale of investment required to compete and grow amid the AI transformation is significant. CFO Susan Li noted the new shares will expand funding tools and provide flexibility to invest behind the unprecedented momentum driven by AI. Meta expects capital expenditures between $135 billion and $145 billion this year. The move comes after Meta launched its AI agent, Muse, in September, which hit 10 million US downloads this week, despite privacy concerns and a paused conversation-sharing feature.
(Source：The Verge)