Meta Introduces Non-Voting Shares to Fund AI Development

Meta plans to introduce new non-voting shares to fund artificial intelligence (AI) development through new stock issuance, avoiding dilution of Zuckerberg's control. The plan will be used for acquisitions, attracting AI talent, and paying for chip expenses. Similar to Alphabet's move in 2014, Meta's non-voting shares will help maintain Zuckerberg's control. Meta's capital expenditure guidance has been raised from a lower limit of $130 billion to $135 billion, with an upper limit of $145 billion. Capital expenditures in the third quarter exceeded $40 billion, compared to less than $19 billion in the same period last year, with free cash flow at -$2.12 billion, down from $10.63 billion a year earlier.

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