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22 Oct 2026, 6:45 AMTechCrunch3.5 Meta wants to pay for its broad AI buildout with a newly created class of stock

On its Q3 2026 earnings call, Meta confirmed it will create a new class of non-voting stock and distribute it to all existing shareholders via a stock dividend, with CFO Susan Li saying the class is intended as publicly traded non-voting stock usable for capital raising, employee compensation, and acquisitions while preserving the voting power of existing Class A and B shareholders and the founder-led structure. The quarter showed $64B in revenue, up 26% year over year, against costs and expenses up 68% year over year, and Meta guided Reality Labs losses to shrink from 2025 levels to $18B–$19B. The report originated with Semafor and was confirmed during the call.

Why: There is no product, API, pricing, or platform change here, and nothing in the text touches Malaysian builders, cloud, payments, or local policy — so no one needs to change what they ship this week. The one transferable decision is structural: if you are a founder weighing outside capital against control, Meta's move is a concrete template for raising money through a non-voting share class rather than diluting founder votes, and its 68% cost growth alongside 26% revenue growth is a reminder that AI buildouts are being financed with balance-sheet engineering, not just operating cash.

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