Nebius Group N.V.
(NASDAQ:NBIS) stock fell Wednesday after a Bloomberg report said Meta Platforms Inc.
(NASDAQ:META) is exploring a cloud infrastructure business that would sell access to raw computing capacity, fueling concerns about intensifying competition in the AI cloud market.
If the initiative moves forward, Meta could compete directly with established cloud providers, including Amazon Web Services, Microsoft Azure and Google Cloud.
Meta did not immediately respond to Benzinga's request for comment.
