Meta plans non-voting shares to expand funding options for AI push

Meta plans to establish a publicly traded share class without voting rights, adding a financing option as it expands its artificial intelligence business, Chief Financial Officer Susan Li said during the company’s third-quarter earnings call.

Existing shareholders would receive the new shares as a stock dividend. Li said Meta intends to use the class for raising capital, compensating employees, making acquisitions and other corporate purposes, without changing the voting power held by existing Class A and B shareholders.

Li said the arrangement would preserve Meta’s founder-led structure while giving it more flexibility to fund investments. The company confirmed an earlier media report that it might issue non-voting shares to support its AI expansion.

Meta reported quarterly revenue of $64 billion, up 26% from a year earlier and above Wall Street expectations. Costs and expenses increased 68% over the same period. The company expects losses at Reality Labs, its augmented- and virtual-reality division, to fall 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 had set up Muse personal agents within a month and a half. Separately, Li warned that legal and regulatory matters could materially affect Meta’s business and financial results, citing scrutiny of youth-related issues and upcoming U.S. trials.