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Meta plans to raise $35 billion through a stock offering to fund the development of its artificial intelligence, according to documents released Monday by the US Securities and Exchange Commission.

Meta was ordered on Wednesday, October 21, to pay $25 billion to New Mexico for misleading residents of the US state for more than a decade about how their data was used. The record penalty against the company drew a sharp response from Meta, which denounced it as a “tax” on freedom of expression.

The United Nations is calling for child-safety measures to be adopted across the social media industry following Meta’s agreement to pay up to $18 billion to settle US claims over the impact of Facebook and Instagram on children and teenagers.

Meta has agreed to pay up to $18 billion over the next decade and introduce stricter safeguards for teenagers using Facebook and Instagram, under a settlement with nearly all US states over allegations that the platforms were designed to be addictive and harmed young users.