Meta, EssilorLuxottica and Pinacoteca di Brera Join Forces to Expand Art Access Through Technology

Meta acquired Conductor, an app that runs multiple AI coding agents in parallel, for an undisclosed sum. Conductor's team will join Meta Superintelligence Labs. The app integrates with third-party agents like Anthropic’s Claude Code and OpenAI’s Codex. Meta aims to enhance its AI coding products, though analysts view this as a small step. Conductor will shut down its cloud service this month, with support for the local app until early 2027.

Morgan Stanley reports that U.S. election uncertainty has delayed some 2028 data center projects to 2029, but the long-term AI investment thesis remains intact. The firm recommends a 'buy-the-dip' strategy for large cloud providers and AI-related stocks, citing strong long-term demand.

The IRS requested the U.S. Tax Court to uphold a $58 million penalty against Meta for allegedly incorrect foreign tax credit claims. The case centers on Meta's tax reporting practices in Brazil.

Meta Platforms plans to issue non-voting Class C shares to raise hundreds of billions for AI investments, starting as early as fall 2026. The move aims to secure capital before competitors absorb available funding. Existing shareholders will receive one non-voting share per share held, with the change effective January 19, 2027. Meta's management forecasts indicate significant capital needs over several years, according to a securities filing.

Louisiana groups sued the Public Service Commission over its 'Lightning Speed Initiative,' alleging lack of transparency in fast-tracking power projects for Meta's $50B Hyperion data center. Plaintiffs claim the commission violated the state constitution by not providing adequate public notice. Entergy Louisiana seeks $14B in energy infrastructure approval, with concerns raised about potential rate increases for consumers.

Meta, Google, and TikTok sued California over AB 1709, a law restricting addictive features for users under 16. The law, set to take effect in 2027, imposes penalties up to $50,000 per violation. The companies argue the law infringes on their editorial decisions and First Amendment rights, with each focusing on their own platforms. A court victory may not protect other companies from the law's provisions.