Meta to create a new class of shares to fund AI push
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TL;DR
- Meta is issuing a new class of non-voting shares to fund its AI initiatives.
- These funds will also support potential acquisitions and employee compensation.
- Trading for the new shares is expected to commence in 2027.
- Meta is making significant investments in AI, including data centers and talent acquisition.
- Capital expenditures for this year are estimated between $135 billion and $145 billion.
- The company recently launched its AI agent, Muse, which achieved 10 million downloads in the US.