Meta Platforms Inc. has raised its capital expenditure forecast and announced plans to create a new class of non-voting shares as part of its intensified push into artificial intelligence.
Speaking during its quarterly earnings release on Wednesday, the social media giant said it expects capital expenditure in 2026 to be between $135 billion and $145 billion, up from the low end of its previous range of $130 billion.
At the same time, the new share class will be distributed to existing investors through a stock dividend. Meta stated that shareholders will receive one new share for each existing share they hold, effectively amounting to a two-for-one stock split.
Meta said the new shares will be used for raising capital, employee compensation and potential acquisitions.
These moves signal Meta's confidence that its artificial intelligence investments will pay off. Chief Executive Officer Mark Zuckerberg has long struggled to persuade investors to accept the company's ever-increasing massive spending on its big AI bet.
However, Meta's technology has made progress in recent months. As of the close of trading in New York on Wednesday, the stock has risen about 6% so far this year.
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