Meta Platforms Inc. (NASDAQ:META) shares are trading higher Wednesday following a report indicating 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?
Meta Plans To Sell Excess AI Compute
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.
