Meta Platforms Inc. increased its capital spending forecast and announced plans to introduce a new class of non-voting shares, further deepening its already enormous artificial intelligence bet.
The social media giant said Wednesday while releasing its quarterly earnings that capital expenditures for 2026 are expected to be between $135 billion and $145 billion, raising the lower end of the range from $130 billion. At the same time, the new share class will be distributed to existing investors in the form of a stock dividend.
Meta said holders will receive one new share for each share they own, essentially equivalent to a two-for-one stock split. The company expects the new shares to begin trading in January. The arrangement will also serve as a tool to support Meta鈥檚 further expansion, which Meta said will be used to raise capital, compensate employees and fund potential acquisitions.
These moves show Meta is confident that its AI investments will pay off. Chief Executive Officer Mark Zuckerberg has struggled to convince investors to accept the company鈥檚 ever-increasing massive spending on its big AI bet. But Meta鈥檚 technology has made progress in recent months.
"Our investments are paying off, the core business is performing strongly, and everything is accelerating," Zuckerberg said in Wednesday鈥檚 report. Zuckerberg also highlighted the success of the Muse AI agent, which reached more than 10 million users in the United States and Canada within its first six weeks.
Meta shares rose more than 3% after hours on Wednesday. As of the close of New York trading on Wednesday, the stock was up about 6% so far this year.
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