Meta Raises Spending Forecast Floor, Plans New Non-Voting Shares
Meta raised the lower end of its annual spending forecast and said it would introduce new non-voting shares to help fund its AI expansion.
Story updates
08:09:45 PM UTC
SquawkNews
Meta's third-quarter capital expenditures reached $34.91 billion as the company builds infrastructure for its AI push, including the launch of Muse and Muse Wonder, its first frontier model. The company raised its full-year capex forecast to $135 billion to 145 billion, up from the prior range of…
08:29:27 PM UTC
SquawkNews
Meta's board has approved a new class of non-voting Class C stock for the company to raise capital for its AI spending without jeopardizing CEO Mark Zuckerberg's control over the company. Meta says the new shares, effective in January, will help support the "significant" investments the company pla…
Meta (NASDAQ:META) raised the lower end of its annual spending forecast on Wednesday and said it plans to introduce new non-voting shares. The move would help finance its costly artificial intelligence expansion. The company has been investing heavily in chips and data centers as it seeks to compete more aggressively with OpenAI and Anthropic.