At a glance
Meta is planning to issue a new class of shares to help fund its broad investments in artificial intelligence models and services.123
The financial update was released alongside the company's third-quarter earnings report.346
Where sources agree
- Meta introduces a new stock class4 of 6
- Funding targets artificial intelligence3 of 6
Where sources differ
What was Meta's total revenue for the third quarter?
Revenue reached $64 billion.4
Who covered this
6 National
Sources
- 1TechCrunchMeta wants to pay for its broad AI buildout with a newly created class of stock ↗
- 2The New York TimesMeta Earnings Show Increased A.I. Spending, Even as Cash Pressures Grow ↗
- 3The VergeMeta to create a new class of shares to fund AI push ↗
- 4DeadlineMeta Tops Q3 Revenue Estimates, But Earnings Hit By Teen Lawsuit Settlement; Stock Split Creates Class C Shares ↗
- 5FortuneMeta’s revenue surges to $64.6 billion, but billions in settlements and skyrocketing AI spending turn screws on profit, free cash flow ↗
- 6VarietyMeta’s Almost $10 Billion Legal Costs Take Huge Toll on Q3 Earnings, Wall Street Shrugs ↗
Based on reporting from these reputable newsrooms and reviewed by Orbit’s editors. A fact appears only when at least two sources report it. Orbit is not affiliated with these publishers.
