Meta launches new share class to finance AI expansion

Meta has announced the creation of a new class of non-voting shares to fund its AI initiatives. The company revealed this during its third-quarter earnings report, which was released on Wednesday. The shares will also be used for potential acquisitions and employee compensation, with trading set to commence in 2027. In a press release, Meta emphasized the significant investment needed to compete and sustain growth amid the AI transformation in the industry. Susan Li, Meta's chief financial officer, stated during an earnings call that the new share class will 'expand our funding tools and gi'. The Verge has the full story.