Meta Weighs Nonvoting Shares for AI Funding

Meta announced a publicly listed, nonvoting Class C share class, effective January 2027, with existing Class A and B shareholders due to receive one Class C share for each share they hold. The shares could help fund acquisitions, AI development and employee compensation without reducing CEO Mark Zuckerberg’s roughly 61% voting control. Meta also raised the lower end of its 2026 capital spending forecast by $5 billion, to $135 billion-$145 billion, for AI chips, data centers and its consumer AI agent, Muse. The company reported third-quarter revenue of $64.60 billion, above expectations, and forecast fourth-quarter revenue above analysts’ estimates, amid intensifying AI competition, concerns about the spending’s effect on cash flow, and legal and regulatory challenges.