Meta Platforms Inc. (NASDAQ:META) shares are trading higher after reports suggest that the company is building a cloud business to sell excess AI compute.
- Meta Platforms stock is showing upward momentum. What’s ahead for META stock?
The Report
According to Bloomberg, Meta is forming a business to generate revenue from excess computing power sold to outside customers as part of an internal initiative called Meta Compute.
The plans include two potential offerings. The first involves selling access to various AI models hosted on Meta’s existing infrastructure—similar to Amazon Web Services’ Bedrock offering—with Meta running the data centers and chips powering the models, including its own Muse Spark models, and charging developers to access them. The second involves selling access to raw computing capacity, similar to neocloud businesses like CoreWeave.
Meta Compute is led by Santosh Janardhan, Meta’s head of infrastructure; Daniel Gross, a leader inside the Meta Superintelligence Labs AI unit; and Meta President Dina Powell McCormick.
Bloomberg noted that the company’s plans are still in development and could change. A Meta spokesperson declined to comment.
Meta Shares Trend Higher
META Price Action: At the time of publication, Meta shares are trading 7.05% higher at $603.00, according to data from Benzinga Pro.
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