Meta lifts 2026 capex floor and plans nonvoting Class C shares

First reported 21 Oct, 20:35 UTCSource: Crypto BriefingLast editorial activity 21 Oct, 20:35 UTCWrite a comment ↓

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Meta Platforms raised the bottom of its 2026 capital spending forecast on October 21, 2026, and unveiled a new class of publicly listed stock that carries no voting rights. The move shows how heavily the company is wagering on artificial intelligence while leaving control of its direction with its chief executive, according to a report by Crypto Briefing.

Revised spending range and what it funds

Meta now expects capital spending in 2026 of between $135 billion and $145 billion. The previous range ran from $130 billion to $145 billion, so the lower end has moved up while the upper end stays where it was.

The money is directed at AI infrastructure, meaning the chips and data centers needed to train large models. A data center is a building full of computers that runs online services. Part of the budget also goes to Muse, Meta's consumer AI agent, software designed to carry out multi-step tasks rather than answer a single question.

Quarterly results offer support for the outlook

Third-quarter 2026 revenue came in at $64.60 billion, ahead of the $63.37 billion that Wall Street had anticipated. Meta also gave fourth-quarter revenue guidance above consensus estimates, and it cited early results from Muse and the launch of new models as reasons for that outlook.

The higher forecast arrives as Meta contends with growing rivalry from leading AI developers, including OpenAI and Anthropic.

Nonvoting Class C shares and control

Meta plans to create a publicly listed Class C common stock that carries no voting rights, taking effect on January 19, 2027. According to the report, such shares would let Meta pay for acquisitions and employee compensation without diluting the voting power of existing holders.

Chief executive Mark Zuckerberg holds around 61% of Meta's voting rights, although he owns a smaller share of the company's economic value. The report suggests the new stock could consolidate control and weaken shareholder influence.

Open questions

How much of the expanded capital budget will go to Muse compared with core infrastructure?
Will the new Class C shares be used for acquisitions or employee pay on the scale the report implies?

Key facts

Meta now expects 2026 capital spending of $135 billion to $145 billion, up from a previous range of $130 billion to $145 billion.

The higher spending funds AI infrastructure and development of Muse, Meta's consumer AI agent.

Third-quarter 2026 revenue reached $64.60 billion, above the $63.37 billion analysts had expected.

Meta plans a new publicly listed Class C common stock with no voting rights, effective January 19, 2027.

CEO Mark Zuckerberg holds around 61% of Meta's voting rights.