Meta plans to create a new class of non-voting shares to help pay for its artificial intelligence investment, the company said alongside its third-quarter results on Wednesday, The Verge reports.
The shares, which are due to start trading in 2027, may also be used for acquisitions and staff pay. Meta said the scale of spending needed to compete in AI was significant, and its finance chief, Susan Li, said the move would give the company more flexibility.
Meta now expects capital spending of $135 billion to $145 billion this year, narrowing its earlier range. It has been building large data centres and recruiting researchers from rivals. Its AI agent, Muse, launched in September, has passed 10 million US downloads, although it has faced privacy concerns, including a paused chat-sharing feature.
Source: The Verge
