Meta is making a big push into AI, and it’s creating a new kind of stock that could help pay for it.
On Wednesday, as the company reported its third-quarter earnings, Semafor reported the company might issue non-voting stock, meaning shares that don’t give their owners a vote on company decisions, to help fund its push into artificial intelligence.
During Meta’s earnings call, the company confirmed that reporting. Meta’s chief financial officer, Susan Li, said the company plans to “create a new class of non-voting capital stock, which will be distributed to all existing shareholders through a stock dividend.”
Li later added that the company “created this new class of shares with the purpose of creating a publicly traded non-voting stock usable for capital raising, employee compensation, acquisitions, and other general corporate purposes while preserving the voting power of existing Class A and B shareholders.”
