Meta wants to pay for its broad AI buildout with a newly created class of stock

During its third-quarter earnings call, Meta confirmed it plans to create a new class of non-voting stock, distributed to existing shareholders via a stock dividend, to be usable for capital raising, employee compensation, and acquisitions while preserving the voting power of existing Class A and B shareholders and its founder-led structure. Meta reported $64 billion in revenue, up 26% year-over-year, while costs and expenses rose 68%, and it said it expects Reality Labs losses to shrink to between $18 billion and $19 billion. CEO Mark Zuckerberg said more than 10 million people in the U.S. and Canada have set up Muse personal agents in about a month and a half, and CFO Susan Li noted continued regulatory and legal scrutiny, including youth-related trials in the U.S.