Meta stock jumps nearly 10% on AI compute sale reports
Business
Meta (the Facebook and Instagram folks) just saw its stock soar almost 10% after reports emerged that Meta is considering selling its unused AI computing power.
The idea? Make back some of the billions spent on AI and go head-to-head with cloud heavyweights like Microsoft Azure, AWS, and Google Cloud.
Meta Compute would monetize spare compute
This is all part of Meta Compute, a new project that would give developers access to Meta's own AI models and spare computing muscle (think Amazon's Bedrock, but with a Meta twist).
Backed by a massive $145 billion investment in data centers and GPUs this year, Meta hopes to turn idle resources into cash.
The news also rattled rivals: shares of smaller cloud firms like CoreWeave and Nebius dropped around 12% as investors took notice.