Meta shares jumped more than 10% Wednesday after reports that the company is developing a cloud infrastructure business that would sell access to artificial intelligence models and computing power.
The stock traded near $623 at press time, marking its largest intraday gain since April.
The proposed business would put Meta in more direct competition with Amazon Web Services, Microsoft Azure and Google Cloud, which already generate billions of dollars by renting computing infrastructure and software to outside customers.
One plan under consideration would allow developers to access AI models hosted on Meta infrastructure, including the company’s Muse Spark models. Meta would operate the data centers and chips powering the models and charge customers based on their usage, following an approach similar to the services available through AWS Bedrock.
Meta is also considering renting raw computing capacity to customers, placing it in competition with specialized AI cloud providers such as CoreWeave and Nebius.
