Meta confirmed on its third-quarter earnings call that it will create a new class of non-voting capital stock, distributed to existing shareholders as a stock dividend. CFO Susan Li said the shares are intended for capital raising, employee compensation, acquisitions, and other corporate purposes, while preserving the voting power of current Class A and B shareholders. Both TechCrunch and The Verge report the plan, with Li describing it as a way to maintain Meta's founder-led structure and expand funding tools.
Meta's AI push is the backdrop. Both outlets note strong early adoption for the Muse AI agent: TechCrunch says more than 10 million people in the U.S. and Canada have set up personal agents, while The Verge reports 10 million downloads in the U.S. TechCrunch also records third-quarter revenue of $64 billion, up 26% year over year, with costs up 68%. The Verge adds that Meta expects capital expenditures between $135 billion and $145 billion this year, and that trading in the new shares will begin in 2027.
The two reports differ in emphasis. TechCrunch flags ongoing regulatory and legal risks, including youth-related trials in the U.S., while The Verge highlights privacy issues with Muse, such as a paused conversation-sharing feature after researchers found chats publicly accessible. Neither source suggests the stock plan will change Meta's governance, but both frame it as a response to the heavy spending required to compete in AI.