Meta Introduces New Share Class to Support AI Development

Meta is set to introduce a new class of shares aimed at funding its AI projects. In its third-quarter earnings report released on Wednesday, the company announced that this non-voting stock will also support potential acquisitions and employee compensation, with trading expected to start 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. Susan Li, Meta’s chief financial officer, emphasized during the earnings call that this new class of shares 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 invested billions in the AI race, constructing extensive data centers, attracting top talent from competitors, and developing AI models that can compete with those from other tech leaders. The company anticipates capital expenditures between $135 billion and $145 billion this year, an increase from the earlier estimate of $130 billion to $145 billion.

Recently, Meta has been quite active, launching its AI agent, Muse, in September. Similar to other AI agents, Muse can manage tasks like organizing your email inbox, making restaurant reservations, and planning trips. The Muse app quickly climbed to the top of app stores after its launch, reaching 10 million downloads in the US this week. Additionally, Meta introduced its Muse Wonder model this week.

However, Muse’s launch has faced some challenges. Concerns about user privacy arose when a tech YouTuber reported that the agent inadvertently shared his address with a stranger on Facebook Marketplace. The company has also paused Muse’s conversation-sharing feature after researchers found chats that were publicly accessible online.