Meta stock jumps 17% in July amid cloud computing plans
Meta, the company behind Instagram, Facebook, and WhatsApp, just had a huge month on Wall Street.
Its stock jumped 17% in July, adding almost $250 billion to its value, making it one of the top performers on the S&P 500.
The rally kicked off after news broke about Meta's cloud-computing plans and continued as investors got excited about what's next.
Meta's AI moves spur investor optimism
After CEO Mark Zuckerberg revealed it is considering letting others lease Meta's AI infrastructure, investor confidence shot up.
Meta also rolled out Muse Spark 1.1, its latest AI model, with a paid option for developers, a first for them.
On top of that, they are dropping $40 billion into expanding a data center in Louisiana to power future AI projects.
Analysts think the stock could keep climbing this year, with everyone watching for more updates when Meta reports earnings soon.