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meta bit n.

The top bit of an 8-bit character, which is on in character values 128-255. Also called [high bit], [alt bit], or (rarely) [hobbit]. Some terminals and consoles (see [space-cadet keyboard]) have a META shift key. Others (including, mirabile dictu, keyboards on IBM PC-class machines) have an ALT key. See also [bucky bits].

Historical note: although in modern usage shaped by a universe of 8-bit bytes the meta bit is invariably hex 80 (octal 0200), things were different on earlier machines with 36-bit words and 9-bit bytes. The MIT and Stanford keyboards (see [space-cadet keyboard]) generated hex 100 (octal 400) from their meta keys.