Meta Creates Non-Voting Class C Shares to Fund AI Spending
Meta is creating a non-voting Class C share class to raise money for its AI buildout without diluting Mark Zuckerberg's voting control. The move follows disclosure of about $825 billion in future lease and contract commitments, mostly tied to AI data centers and compute. Meta's five-year CDS hit a record high and Q3 free cash flow turned negative at -$2.12 billion, while AI stocks sold off on October 22.
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