Meta issues new non-voting shares to fund AI
The Verge: Meta to create a new class of shares to fund AI push
Meta says it's issuing a new class of shares to fund its AI initiatives. As part of its third-quarter earnings report released on Wednesday, the company says the non-voting stock will also go toward potential acquisitions and employee compensation, with trading beginning in 2027. "The scale of investment required to compete, sustain growth, expand infrastructure, and pursue new strategic initiatives amidst the AI transformation taking place in the industry is significant," Meta
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Meta is creating a new class of non-voting shares to raise funding for its artificial intelligence initiatives, as well as for acquisitions and employee compensation, with trading set to begin in 2027. The company stated that the scale of investment needed to compete in the AI transformation taking place across the industry is significant, and the new shares will expand its funding tools and give it flexibility to invest in its business. Meta has been spending billions on the AI race through building data centers and developing AI models, and expects capital expenditures between 135 billion and 145 billion dollars this year.
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