Meta raises its capital spending forecast for 2026 and plans to issue non-voting shares.

Meta Platforms (META.US) has raised its capital expenditure forecast and announced plans to establish a new class of non-voting shares. These two measures indicate that the social media giant is further increasing its already massive investment in artificial intelligence. When Meta released its quarterly earnings on Wednesday, the company stated that capital expenditure in 2026 is expected to reach $135 billion to $145 billion, up from the previous forecast range of $130 billion to $135 billion. Meanwhile, Meta plans to distribute the new class of shares to existing investors in the form of a stock dividend. Under this plan, current shareholders will receive corresponding new shares, which in practice is essentially a 2-for-1 stock split. Meta stated that it anticipates the new shares will begin trading in January next year. The company said the new class of shares will be used for raising capital, employee compensation, and potential acquisition deals. These moves demonstrate Meta's strong confidence that its investments in artificial intelligence will ultimately yield returns. Meta's third-quarter revenue was $64.6 billion, higher than the market expectation of $63.334 billion, and Meta also expects its fourth-quarter revenue to reach $73 billion to $76 billion, with analysts' previous average estimate at $73.6 billion.