Meta Issues New Shares to Fund AI Expansion
Meta introduced new non-voting shares to fund its costly AI expansion as quarterly revenue beat expectations. The company reported strong growth for its Muse AI agent amid rising capital expenditures.
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Meta Platforms introduced new non-voting shares on Wednesday to fund its artificial intelligence expansion, reporting strong consumer growth for its Muse agent app. Shares rose over 4% in extended trading after fourth-quarter revenue projections topped Wall Street estimates. The company has poured capital into advanced chips and data centers to rival competitors, eroding its free cash flow.
