Meta launches non‑voting shares to bankroll AI agent Muse and broader AI push

Meta issued a new class of non‑voting Class C shares, effective Jan 2027, to raise capital for its fast‑growing AI agent business. The move creates a two‑for‑one split and lets the company fund acquisitions and retain talent while keeping CEO Mark Zuckerberg in control. Shares of the Facebook and Instagram parent rose more than 4% in after‑hours trading. Zuckerberg told investors that over 10 million users in the US and Canada signed up for the Muse agent in just six weeks and that the service could eventually reach billions, generating more revenue than a typical Meta user. He said Muse will be monetized sooner than the company’s usual playbook. CFO Susan Li said AI revenues should start adding to earnings in 2027 and become a meaningful diversification source. Meta also raised its capital‑expenditure outlook to $135‑$145 billion for the year, a step up from the prior $130‑$145 billion range. The third‑quarter revenue came in at $64.60 billion, beating estimates, while free‑cash‑flow turned negative at $2.12 billion after a $10.63 billion surplus a year earlier. The firm projected fourth‑quarter revenue of $73‑$76 billion, also above forecasts. Analysts noted the market now rewards Meta for a compelling AI product story despite past spending criticism. Legal pressures persist, including a $25 billion penalty in New Mexico over data‑sharing allegations and an $18 billion settlement to limit teen use of its platforms. Anthropic has launched Claude Duet, a competing AI agent for professionals, highlighting the intensifying race for consumer AI assistants. ## Context Meta’s push mirrors a broader industry shift toward AI agents that can handle daily tasks, a trend that could reshape how users interact with digital services and influence future regulatory scrutiny.