Meta Plans Non-Voting Shares to Fund Its AI

Key Takeaways

1Meta plans a new class of non-voting shares to fund AI

2Over 10 million activations of Muse in North America in a month and a half

3Reality Labs remains unprofitable, with losses expected between $18 and $19 billion

4Meta anticipates youth-related lawsuits in the United States

Why it matters : This strategy allows Meta to support its AI investments without altering its control structure, while facing financial and regulatory challenges.

Meta aims to strengthen its resources for AI without affecting voting power. The group is preparing a class of non-voting shares while claiming strong traction for its Muse products. The Reality Labs division remains unprofitable, and the company anticipates youth-related lawsuits in the United States.

Upcoming Lawsuits and Reality Labs Losses Shape the Roadmap

Meta indicates that it is monitoring ongoing legal and regulatory matters that could significantly impact the company and its financial results. The company is particularly observing increased scrutiny regarding youth-related issues across several markets and expects multiple youth-related lawsuits in the coming months in the United States. Meanwhile, Reality Labs, the division responsible for AR glasses, VR headsets, and VR software, continues to record losses, although these are less than before. Meta anticipates that these losses will decrease from their 2025 levels to between $18 and $19 billion.

A Non-Voting Share Class Planned to Raise Funds

Meta plans to create a new class of non-voting capital shares, which will be distributed to all existing shareholders as a stock dividend. According to Chief Financial Officer Susan Li, this class of shares has been created to allow the listing of non-voting shares, which can be used to raise funds, compensate employees, make acquisitions, and for other general purposes, while preserving the voting power of existing Class A and B shareholders. This structure is intended to enable Meta to maintain founder-led governance and expand its financing tools to invest in AI-driven dynamics. The issuance of these non-voting shares was mentioned during the announcement of the third-quarter financial results. Non-voting shares do not confer voting rights on company decisions.

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Muse Accelerates: 10 Million Activations and an Industrial Milestone

In just a month and a half, over 10 million people in the United States and Canada have set up Muse personal agents, according to Mark Zuckerberg. He emphasizes that growth remains strong and that the app has ranked first in the App Store almost every day. Zuckerberg notes that Muse is entering a new phase, more focused on large-scale operational development, with the goal of increasing the product's appeal to ultimately serve billions of people. Meta has ramped up its investments in AI over the past year, launching several models such as Muse Spark and Muse Glimmer, followed by Muse Wonder and Muse Spark Open, the latter being an open-weight model with publicly accessible parameters. The company has also launched Muse Code, a coding agent for developers, and introduced a new range of avatars for Meta Muse at Meta Connect, aimed at making its AI services more accessible and likely to become memes.

Revenue Up 26%, Costs Up 68%

In the last quarter, Meta reported revenue of $64 billion, a 26% increase compared to the previous year. At the same time, costs and expenses rose by 68% year-on-year. The results exceeded Wall Street expectations.