Meta has announced its intention to issue a new class of non-voting shares specifically designed to bolster its artificial intelligence initiatives. Included in the company’s third-quarter earnings report released on Wednesday, this financial move will allow Meta to allocate resources toward potential acquisitions and employee compensation, with trading commencing 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 stated in the press release. During an earnings call, Chief Financial Officer Susan Li elaborated that the new share class will “expand our funding tools and give us flexibility to invest behind the unprecedented momentum we’re seeing across every part of our business driven by AI.”
Meta has committed billions of dollars to the ongoing AI race, focusing on constructing expansive data centers, poaching top talent from competitors like OpenAI, and developing AI models capable of rivaling industry giants. To support these efforts, the company has adjusted its capital expenditure estimates for the year, now expecting spending between $135 billion and $145 billion, up from the prior forecast of $130 billion to $145 billion.
It has been a productive period for Meta, which recently launched its AI agent, Muse, in September. This agent, capable of managing tasks such as decluttering email inboxes, booking restaurant reservations, and planning trips, quickly surged to the top of app stores and has already garnered 10 million downloads in the U.S. Additionally, the company released its Muse Wonder model this week.
However, the launch of Muse has encountered some hurdles. Addressing concerns regarding user privacy, a tech YouTuber revealed that the agent incorrectly transmitted his personal address to a stranger on Facebook Marketplace. Furthermore, the company has temporarily disabled the conversation-sharing feature for Muse after researchers discovered that chats were being posted publicly online.
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