Meta Creates Non-Voting Stock to Fund AI Push

Meta confirmed plans to issue a new class of non-voting stock to help fund its artificial intelligence expansion. CFO Susan Li said the shares will be distributed to existing shareholders as a stock dividend and used for capital raising, employee compensation, and acquisitions, while preserving voting power of current Class A and B shareholders. Meta reported $64 billion in third-quarter revenue, up 26% year-over-year, though costs rose 68%. CEO Mark Zuckerberg said over 10 million U.S. and Canadian users have set up personal agents on its AI assistant, Meta Muse, within a month and a half of launch.