Meta Shares Fall 7.5% Amid Rising AI Capex And New Share Class

Meta Platforms shares dropped 7.5% on Thursday to close at $644.30 as investors expressed concerns over the company's aggressive artificial intelligence spending plans.

The Facebook parent company raised its full-year capital expenditure forecast range to between $135 billion and $145 billion to support its Muse AI agent strategy.

Meta reported third-quarter revenue of $64.6 billion, beating analyst estimates, and announced a new Class C non-voting share distribution through a stock dividend.