Meta reportedly plans a new class of non-voting stock to raise money for AI development. The structure would leave Mark Zuckerberg's voting power untouched, but Meta has not confirmed any equity issuance.
Meta reportedly plans to create a new class of non-voting stock and sell shares to fund AI development. The structure would keep Mark Zuckerberg's grip on the company intact. However, Meta has not officially confirmed any plans for an equity issuance.
Why Meta needs the money
The company anticipates capital expenditures of between $130 billion and $145 billion for AI-related projects by 2026. Most of that money is aimed at data centers and other technological infrastructure.
Until now, Meta has paid for the buildout mostly through debt and operating cash flow, and it has avoided large equity sales. That possibility has fueled market chatter about a potential "monster secondary" offering.
Protecting Zuckerberg's control
A non-voting class would let Meta issue stock without diluting Zuckerberg's voting power. As of mid-2026, Zuckerberg holds approximately 61% of voting power while owning only around 13.5% of the company's economic shares.
That gap comes from Meta's existing dual-class structure, where some shares carry more votes than others. New investors would add capital, and the voting math would stay where it is.
Short sellers take notice
Speculation about an equity raise peaked on October 21, 2026, following a string of AI announcements that included the launch of Muse Wonder models in October 2026. Those models reportedly posted strong early user metrics.
Even so, short interest in Meta shares has risen by over 20%, equivalent to 33 million shares, since mid-August 2026.
For existing shareholders, a large equity sale would spread Meta's earnings across a bigger share count. New buyers would carry economic risk without any governance power, so the next signals are whether Meta confirms the share class and how large any offering turns out to be.
Source: Crypto Briefing
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