Meta will create a new class of shares to pay for AI, acquisitions and staff pay, while its Muse AI app faces privacy questions.
Meta says it will create a new class of company stock to help pay for its push into artificial intelligence. The company announced the plan on Wednesday with its third-quarter earnings report. The shares will have no voting rights, and trading is set to begin in 2027.
Besides AI projects, the money may go toward possible acquisitions and employee pay. Non-voting stock lets people own a piece of a company without a say in how it is run. Meta's chief financial officer, Susan Li, said it will "expand our funding tools."
The spending is huge. Meta now expects to spend between $135 billion and $145 billion this year on equipment and buildings, such as data centers. Its earlier estimate was $130 billion to $145 billion.
Meta launched an AI agent called Muse in September. It can clean out an email inbox, book restaurant reservations and plan trips. The app hit 10 million US downloads this week.
The material does not say how many shares Meta will sell, how much money it hopes to raise, or what price they will carry. It also does not say when Muse's paused feature will return.
Before telling Meta's Muse app anything personal, check its privacy settings, since the app has already had two privacy problems.
Visa tested 22 AI models on realistic shopping tasks. They passed just over half, and often bought the wrong thing anyway.
Read more: Visa tested 22 AI shoppers, and most still make costly mistakesDARPA wants AI to hunt for design flaws in stock, bond, energy and cloud markets, so enemies cannot use them to cause economic damage that reaches households.
Read more: Pentagon wants AI to find weak spots in stock and energy marketsTuring Award winner Richard Sutton says more computing power alone will not make AI truly smart. Big AI companies disagree, which matters for anyone betting on AI.
Read more: AI pioneer says piling on computing power won't make machines smart
