# Meta raises 2026 AI capex floor to $135 billion and announces nonvoting Class C shares

Digest AI · Business & Funding · published 2026-10-21T20:20:01Z

Canonical: https://digestai.news/story/meta-will-issue-nonvoting-stock-to-fund-ai-model-development

## Summary

Meta Platforms lifted its 2026 capital‑expenditure outlook for artificial‑intelligence work to a range of $135 billion‑$145 billion, moving the floor up $5 billion while keeping the ceiling unchanged. The additional spending is earmarked for AI infrastructure – chips and data centers – and for developing Muse, the company’s consumer AI agent, as competition from OpenAI and Anthropic intensifies.

In the same announcement, Meta said it will create a publicly listed Class C common‑stock series that carries no voting rights, effective Jan 19 2027. Existing Class A and B shareholders will receive a one‑time dividend of one Class C share per share they own, giving the firm a non‑dilutive currency for acquisitions and employee compensation. CEO Mark Zuckerberg already controls about 61% of voting power. The company reported Q3 2026 revenue of $64.60 billion, beating the $63.37 billion consensus, and gave Q4 guidance above expectations.

## Key points

- Meta expects 2026 AI‑related capex between $135 billion and $145 billion, raising the floor by $5 billion.
- A new nonvoting Class C share class launches Jan 19 2027, with a one‑for‑one dividend to existing shareholders.
- Q3 2026 revenue hit $64.60 billion, surpassing expectations, and Muse AI agent showed early momentum.

## Why it matters

The higher AI budget underscores Meta’s bid to keep pace with leading AI developers, while nonvoting shares give it a financing tool that preserves existing voting control.

## Sources

1. [Meta raises AI spending floor and plans nonvoting Class C stock](https://cryptobriefing.com/meta-raises-capex-nonvoting-class-c-stock) (cryptobriefing.com, 2026-10-21)
2. [Meta says it will create a new class of nonvoting stock to raise the capital it needs for developing AI models, with an effective date in January 2027](https://wsj.com/articles/metaplatforms-meta-3q-earnings-report-2026-stock-f28d64c2?st=Uj26V6&reflink=desktopwebshare_permalink) (wsj.com, 2026-10-21)
3. [Meta wants to pay for its broad AI buildout with a newly created class of stock](https://techcrunch.com/2026/10/21/meta-wants-to-pay-for-its-broad-ai-buildout-with-a-newly-created-class-of-stock) (techcrunch.com, 2026-10-21)
4. [Meta to create a new class of shares to fund AI push](https://theverge.com/tech/1015799/meta-shares-class-ai-q3-2026-earnings) (theverge.com, 2026-10-21)
5. [META Stock Jumps 3% After-Hours After Q3 Revenue Beats Expectations, With A Narrowed AI Capex Outlook And New Non-Voting Class C Stock](https://finance.yahoo.com/markets/stocks/articles/meta-stock-jumps-3-hours-212549647.html) (finance.yahoo.com, 2026-10-21)
6. [Meta stock surges on strong earnings report; tech giant unveils new shares to bankroll AI spending](https://nypost.com/2026/10/21/business/meta-stock-surges-on-strong-earnings-report-tech-giant-unveils-new-shares-to-bankroll-ai-spending) (nypost.com, 2026-10-21)

Part of the developing story: [Meta's AI Investment and Governance Saga](https://digestai.news/thread/meta-will-issue-nonvoting-stock-to-fund-ai-model-development) (2 stories)

## Cite

Digest AI, "Meta raises 2026 AI capex floor to $135 billion and announces nonvoting Class C shares", 21 October 2026, https://digestai.news/story/meta-will-issue-nonvoting-stock-to-fund-ai-model-development

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