Business & Finance
Meta Boosts Bet on AI With Spending Outlook, New Stock Class
Key Points
Meta Platforms boosted its capital spending outlook and announced plans for a new class of nonvoting stock, escalating its already-stratospheric bet on artificial intelligence. Capital expenditures will be $135 billion to $145 billion in 2026, the social-media giant said during its quarterly earnings report Wednesday, raising the bottom end of the range from $130 billion. The new class of shares, meanwhile, will be distributed to existing investors through a stock dividend.
Meta Platforms boosted its capital spending outlook and announced plans for a new class of nonvoting stock, escalating its already-stratospheric bet on artificial intelligence. Capital expenditures will be $135 billion to $145 billion in 2026, the social-media giant said during its quarterly earnings report Wednesday, raising the bottom end of the range from $130 billion. The new class of shares, meanwhile, will be distributed to existing investors through a stock dividend. Holders will get one share of the new stock in what will essentially be a two-for-one stock split, Meta said. It expects trading of the new shares to begin in January. Bloomberg Tech Host Ed Ludlow joins Bloomberg Businessweek Daily to discuss. He speaks with Carol Massar and Tim Stenovec. (Source: Bloomberg)