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During Meta’s earnings call on Wednesday, the company revealed its board had approved a new class of non-voting stock, called Class C common stock. The shares give the holder an ownership stake but no vote on company decisions. This class takes effect in January. Meta says it will use the stock for capital raising, employee…

Meta is making a big push into AI, and it’s creating a new kind of stock that could help pay for it.

Meta said during its third-quarter earnings call on Wednesday that its AI app Muse has been adopted by more than 10 million users, confirming estimates released earlier this week by market intelligence firm Sensor Tower.

The tail of the Cambridge Analytica data scandal is long — and it keeps costing Meta gargantuan sums of money.

TikTok was repeatedly warned by employees about the risks the social media platform posed to children, according to court records obtained NPR. The documents say employees were frustrated with how executives responded to their concerns about risks to children, including sexual exploitation and exposure to suicide-related content.

Elon Musk claims he will give one of his SpaceX shares to “every kid in America” in 2027, which would result in a gift worth more than $10 billion based on the current $146 share price of his combination spaceflight and AI company. That’s roughly 1% of his $1 trillion net worth.

Norway is set to introduce a social media ban for children under 16, with the government announcing on Monday that it is finalising legislation to be submitted to parliament by the end of the year.

Tolan, the AI companion designed to help people manage their daily lives, navigate relationships and emotions, and accomplish their goals, has just expanded its runway with another $30 million in capital.

Meta recently updated its commercial terms of use, declaring that the company can “use any content from [a business account’s] domains, web pages, or URLs to provide, develop, improve, research, train, and maintain the integrity of” Meta products and services.

A four-hour documentary about Elon Musk continues to meet resistance from social media platforms, with TikTok banning the film’s advertising account.