Meta creates non-voting shares to finance AI expansion
Meta announced a new non-voting share class during its Q3 earnings report, intended to fund AI work, acquisitions, and employee compensation. The shares are set to begin trading in 2027, and CFO Susan Li said the move gives Meta more flexibility for AI-driven investment. The company now expects capital expenditures of $135 billion to $145 billion this year.
Meta disclosed the non-voting stock in its third-quarter results, saying it would support artificial-intelligence projects, possible purchases of other companies, and staff pay. Trading is scheduled to start in 2027. On the earnings call, CFO Susan Li said the structure widens the company’s financing options and lets it respond to AI-related demand across its business.
Meta now projects this year’s capital spending at $135 billion to $145 billion, raising the low end of its earlier estimate. The company also recently launched its Muse AI agent, which reached 10 million U.S. downloads this week, and introduced the Muse Wonder model. Muse has faced privacy questions, including a report that it shared a user’s address and a pause on chat sharing.
The move could give Meta more room to fund AI infrastructure and acquisitions, potentially speeding new AI products to users while intensifying competition for talent and computing resources. Because the shares carry no votes, investors may focus on dilution and governance tradeoffs. Users could gain more capable tools, but the Muse privacy incidents suggest adoption may also raise questions about data handling and trust.