Meta's Q3 earnings beat, with revenue surging 26% to $64.6 billion driven by ad growth and early Muse AI assistant traction, was overshadowed by a $9.89 billion legal charge and sharply higher AI-related capital expenditures. The company announced a $35 billion common and convertible stock offering on October 26 to finance data centers and computing capacity amid $825 billion in future commitments, alongside plans for non-voting Class C shares effective in early 2027. These moves, following recent volatility from AI spending concerns, represent the key near-term driver for trader sentiment around the day's closing price, with Q4 guidance of $73-76 billion providing some offset.