Meta to Issue Non-Voting Stock to Fund AI Buildout as Q3 Revenue Jumps 26%

Meta Platforms confirmed Wednesday it will create a new class of non-voting capital stock, distributed to existing shareholders via a stock dividend, to fund its artificial intelligence expansion while preserving the founder-led voting structure. CFO Susan Li said the shares are intended for capital raising, employee compensation and acquisitions. The company reported third-quarter revenue of $64 billion, up 26% year over year and ahead of Wall Street estimates, while costs and expenses rose 68%. Reality Labs, Meta's AR and VR unit, remains unprofitable, though the company expects its losses to narrow from 2025 levels 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 six weeks. Li also flagged ongoing regulatory and legal scrutiny, including youth-related trials scheduled in the U.S. in the coming months.