Meta Platforms

Vancouver – October 29, 2026 -- Bank of America, Blackstone, Citi and Morgan Stanley announced a $63 billion financing structure to build AI compute capacity for Anthropic using Broadcom technology, with deliveries expected from calendar 2027.

A special purpose vehicle will buy Broadcom XPU AI accelerators and networking solutions and lease them to Anthropic. Broadcom will provide residual value support equal to the first lien portion of the financing. CEO Hock Tan said the deal validates that "there is capital available to finance such growth."

Meta books a $9.89 billion charge as Q3 revenue climbs 26% to $64.60 billion

Meta Platforms posted net income of $9.86 billion, up 264%, and diluted EPS of $3.83, up 265%. The quarter included a $9.89 billion charge tied to an agreement with 52 attorneys general on teen mental health and social media litigation. The agreement carries payments of up to approximately $18.59 billion.

MENLO PARK – October 29, 2026 -- Meta Platforms raised the size of its Class A common stock offering to $25.0 billion from $22.5 billion and priced a parallel offering of 6.50% mandatory convertible preferred stock expected to net about $12.5 billion.

Meta sells 250 million depositary shares at $50 each

The depositary shares each represent a 1/20th interest in a share of newly issued 6.50% Series A Mandatory Convertible Preferred Stock. Underwriters hold a 30-day option on up to 37,500,000 additional depositary shares, which would lift net proceeds to about $14.3 billion. Meta plans to use the money for general corporate purposes.

The preferred stock carries a $1,000 liquidation preference per share. Dividends accumulate at 6.50% annually and are payable on February 15, May 15, August 15 and November 15, starting February 15, 2027. Meta can pay them in cash, in Class A common stock or in a combination of the two.

San Francisco – September 10, 2026 -- Hims & Hers Health, Inc. (NYSE: HIMS) and certain executives now face a securities class action after a July 29, 2026 federal complaint from the Federal Trade Commission wiped over $970 million from the company's market capitalization in a single trading session, sending shares down $4.32, or 14.7%.

FTC alleges Hims shared health data with Meta and Snap despite privacy pledges

The FTC complaint, filed alongside co-plaintiffs the State of Utah and Los Angeles County representing California, accuses Hims of surreptitiously sharing sensitive user medical conditions and personal health data with third-party advertising platforms including Meta Platforms and Snap. Regulators allege the company used embedded tracking pixels and customer list matching to transmit this data, contradicting public assurances that it maintained administrative, physical, and technical safeguards for health and personal information.