Meta boosts bet on AI with spending outlook, new stock class; Q3 results beat estimates
It says the non-voting shares will ensure Zuckerberg continues to lead the firm ‘into the next era’
Meta Platforms has increased its capital spending outlook to between US$135 billion and US$145 billion for 2026 and announced a new class of non-voting shares. The increased spending is a significant bet on artificial intelligence, as Meta's CEO, Mark Zuckerberg, has been pushing for the technology to bear fruit. The new class of shares will be distributed as a dividend to existing investors, resulting in a two-for-one stock split, with trading set to begin in January.
These moves show Meta's confidence in its AI investments, with CEO Zuckerberg touting the success of its new Muse AI agent, which has been used by over 10 million people in the US and Canada. Meta's third-quarter revenue rose 26% to US$64.6 billion, surpassing the estimated US$63.3 billion. The company expects Q4 revenue to be between US$73 billion and US$76 billion.
Meta is also focusing on monetizing its AI investments through transaction fees, subscriptions, and paid tools for companies.
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