Meta doubles down on AI bet.

Meta Raises Capex Forecast, Doubles Down on AI, Shares Rise After Hours. Meta Platforms Inc. raised its capital spending forecast and announced plans to create a new class of non-voting stock, doubling down on its already massive artificial intelligence bet. The social-media giant said Wednesday when releasing quarterly results that capital expenditures are expected to be $135 billion to $145 billion in 2026, raising the low end of the range from $130 billion. Meanwhile, the new class of stock will be distributed to existing investors through a stock dividend. Meta said holders will receive one new share for each share they own, essentially equivalent to a two-for-one stock split. The company expects the new shares to begin trading in January. The arrangement will also serve as a tool to drive Meta's further expansion, and Meta said it will be used to raise capital, compensate employees and fund potential acquisitions. Meta shares rose more than 3% after hours on Wednesday. Through Wednesday's close in New York, the stock was up about 6% this year.