Meta raises AI spending forecast to $145 billion, plans new share issue; Q3 revenue beats estimates

What happened: Meta raised its capital expenditure forecast to $135 billion to $145 billion this year and plans a new non-voting share issue. Quarterly revenue beat Wall Street estimates and fourth-quarter revenue was projected above expectations. Key numbers: Q3 revenue $64.60 billion versus estimates of $63.37 billion. Why it matters: Heavy spending on chips and data centres to compete with OpenAI and Anthropic has pressured Meta's free cash flow. The non-voting shares could fund acquisitions and attract talent without diluting Mark Zuckerberg's voting control. Coverage: 6 outlets in 24h

Meta raised its capital expenditure forecast to $135 billion to $145 billion this year and plans a new non-voting share issue. Quarterly revenue beat Wall Street estimates and fourth-quarter revenue was projected above expectations.

Heavy spending on chips and data centres to compete with OpenAI and Anthropic has pressured Meta's free cash flow. The non-voting shares could fund acquisitions and attract talent without diluting Mark Zuckerberg's voting control.