[Meta Bets on AI, Raises Capital Expenditure Expectations and Plans to Issue New Class of Stocks] On October 22, Meta Platforms Inc. raised its capital expenditure expectations and announced plans to launch a new class of non-voting stocks, further increasing its already huge bet on artificial intelligence. When the social media giant released its quarterly earnings report on Wednesday, it said it expects capital expenditures in 2026 to be $135 billion to $145 billion, raising the lower end of the range from $130 billion. At the same time, the new class of shares will be distributed to existing investors in the form of stock dividends. Meta said holders will receive one new share for every share they hold, essentially equivalent to a "1-for-2" stock split. The company expects the new shares to begin trading in January. The arrangement will also serve as a vehicle to drive Meta's further expansion, which Meta said it will use to raise capital, employee compensation and potential acquisitions. These moves show that Meta is confident that its investment in artificial intelligence will pay off. Chief Executive Officer Mark Zuckerberg has struggled to convince investors to accept the company's huge and growing spending on its big bet on AI. But Meta's technology has made progress in recent months. "Our investments are paying off, with strong performance in our core business and acceleration across the board," Zuckerberg said in Wednesday's report. Zuckerberg also highlighted the success of the Muse AI agent, which was used by more than 10 million people in the United States and Canada in its first six weeks.