Meta plans non-voting shares to fund AI without ceding control

Meta Platforms Inc. intends to create a new class of non-voting stock to finance artificial intelligence infrastructure while maintaining Mark Zuckerberg’s voting majority, according to the Financial Times. The proposed share structure would allow Meta to raise capital for data centers and chips without diluting existing shareholders’ economic stakes or Zuckerberg’s operational authority. This corporate governance mechanism insulates management from investor pressure regarding the company’s substantial AI spending strategy. The plan follows similar dual-class structures previously adopted by technology firms seeking long-term investment horizons. Critics argue such arrangements reduce board accountability during periods of high capital intensity. Meta has not disclosed the timeline for implementing this share class or the specific amount of capital it aims to raise through this instrument. The proposal underscores the tension between funding generative AI ambitions and traditional corporate governance standards.