Meta lifts capex outlook for AI buildout and plans a new class of nonvoting stock

Meta Platforms said it is stepping up its planned spending on artificial intelligence and announced plans for a new class of nonvoting stock, a move that reinforces the company’s long-running strategy of scaling AI infrastructure even as costs and competition rise across the tech sector. The updates were reported in a market-focused segment published by Yahoo Finance on October 21, 2026.

According to the report, Meta increased its capital expenditure outlook, projecting capital expenditures of $135 billion. Capital expenditures, or capex, are spending on long-term assets such as data centers, servers, and other infrastructure used to deliver products and services. For a company whose business is increasingly tied to AI-powered recommendations, ads targeting, and content ranking, capex is one of the main levers for expanding compute capacity.

The same report also said Meta plans to create a new class of nonvoting stock. Nonvoting shares do not carry shareholder voting rights, typically giving founders or management more control while still raising or restructuring equity. The announcement suggests Meta intends to manage governance and capital structure alongside its AI investment cycle.

Meta did not, in the Yahoo Finance segment, provide additional detail in the brief description about how the new nonvoting class would be issued or what specific corporate actions would accompany the change. It also did not specify, in the available text, how the company plans to allocate the projected $135 billion across data centers, hardware procurement, or other AI-related programs.

For context, Meta’s AI push has been a central theme of its business planning for more than a year, driven by the need for more compute to train and run AI systems at scale. As the industry moves from experimental deployments toward production-grade AI features, the balance between near-term spending and expected benefits becomes a key focus for investors. In that setting, a higher capex outlook can be viewed as a announcement that management expects AI returns to justify continued heavy investment.

While Meta’s share-class plan could change how control and economics are structured for investors, the available reporting does not clarify whether the nonvoting stock is intended for employee compensation, institutional issuance, or another purpose. It also does not outline any expected timeline, conversion terms, or voting-right conditions tied to the new shares.

Meta typically communicates major financial guidance and corporate actions through formal investor communications and filings. The Yahoo Finance report did not provide those additional documents in the text available here, so key specifics may only appear later in company filings or official announcements.

What to watch next is whether Meta follows up with more detailed disclosures on the capex drivers and the mechanics of the new nonvoting share class. Additional clarity on spending phasing, the types of AI infrastructure prioritized, and the governance implications of the proposed stock class would help observers gauge how quickly the company expects capacity buildout to translate into operating results.