{
  "id": 15944115,
  "title": "Meta to issue new class of shares as it tightens AI spending forecast",
  "url": "https://urgent.news/2026/10/21/meta-to-issue-new-class-of-shares-as-it-tightens-ai-spending-forecast-15944115",
  "topic": "ai",
  "section": "AI",
  "published": "2026-10-21T20:08:02.000Z",
  "source": {
    "name": "CNA - Business",
    "slug": "cna-business",
    "url": "https://www.channelnewsasia.com/business/meta-issue-new-class-shares-it-tightens-ai-spending-forecast-6480286"
  },
  "original_language": "en",
  "account": "Meta announced on Wednesday that it will introduce a new class of non-voting shares to help fund its growing AI investments, as it lowers its annual spending forecast. Shares of the company jumped around 4 percent in extended trading after the disclosure. Meta has been pumping resources into AI-related infrastructure such as chips and data centers to compete more fiercely with OpenAI and Anthropic, which has eroded its historically robust free cash flow. The new shares may enable the company to finance acquisitions and attract top talent without reducing CEO Mark Zuckerberg's voting control in a time when AI is rapidly evolving in Silicon Valley. Meta now anticipates capital expenditures to range between $135 billion and $145 billion this year, up from the previously estimated $130 billion to $145 billion. The company reported better-than-expected revenue of $64.60 billion for the quarter ended September 30, surpassing Wall Street's expectations of $63.37 billion. CEO Mark Zuckerberg expressed optimism about Meta's investments, stating that the core business is strong, and they are seeing velocity across the board. However, Meta faces mounting legal challenges, including a $25 billion penalty ordered by a judge in New Mexico for misleading residents about its data-sharing practices. The early success of Meta's consumer-focused AI agent Muse and the release of a competitive series of AI models have bolstered investor confidence in the company's AI spending plans.",
  "summary": null,
  "key_points": [
    "Meta introduces new non-voting shares to fund AI investments.",
    "Annual spending forecast for AI reduced to $135B-$145B.",
    "CEO optimistic about Meta's AI investments and consumer AI agent Muse."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "Channel News Asia",
        "title": "Meta to issue new class of shares as it tightens AI spending forecast",
        "url": "https://urgent.news/2026/10/21/meta-to-issue-new-class-of-shares-as-it-tightens-ai-spending-forecast",
        "published": "2026-10-21T20:08:02.000Z"
      },
      {
        "outlet": "Investing.com",
        "title": "Meta beats Q3 estimates, approves new nonvoting share class as AI spending surges",
        "url": "https://urgent.news/2026/10/21/meta-beats-q3-estimates-approves-new-nonvoting-share-class-as-ai",
        "published": "2026-10-21T20:48:06.000Z"
      },
      {
        "outlet": "The Business Times - Companies & Markets",
        "title": "Meta boosts bet on AI with spending outlook, new stock class; Q3 results beat estimates",
        "url": "https://urgent.news/2026/10/21/meta-boosts-bet-on-ai-with-spending-outlook-new-stock-class-q3",
        "published": "2026-10-21T22:28:43.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}