From The Verge · Emma Roth · · 1m 10s
Meta issues new shares to fund AI spending surge
Meta creates a non-voting share class to raise money for artificial intelligence, data centers, and staff as capital spending climbs to $145 billion.
In brief
Meta creates a non-voting share class to raise money for artificial intelligence, data centers, and staff as capital spending climbs to $145 billion. Meta announced a new non-voting share class to fund AI initiatives, acquisitions and employee compensation, with trading starting in twenty twenty-seven. Originally…
Meta creates new share class
Meta announced a new non-voting stock class in its third-quarter earnings report on Wednesday. The shares will fund AI initiatives, acquisitions and employee compensation, with trading beginning in twenty twenty-seven.
Spending surge to compete in AI
Meta says the scale of investment needed to compete and pursue new initiatives amid AI transformation is significant.
“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.”
Capital spending climbs higher
Meta expects capital expenditures between one hundred thirty five billion and one hundred forty five billion dollars this year, up from the previous one hundred thirty billion and one hundred forty five billion dollar estimate.
Muse agent faces privacy issues
Meta launched its Muse AI agent in September.The app hit ten million downloads in the US this week but faced privacy concerns when a YouTuber reported the agent gave out his address to a stranger.
The takeaway
Meta announced a new non-voting share class to fund AI initiatives, acquisitions and employee compensation, with trading starting in twenty twenty-seven.
