Meta Platforms, Inc. (NASDAQ:META) was among Jim Cramer’s stock calls on Mad Money, as he highlighted the AI opportunities in neoclouds.
Cramer highlighted the company’s entry into the neocloud space, as he remarked: Last week, we learned that Meta Platforms might pivot some of its AI business and join the ranks of the neoclouds
These are companies that basically sell computing power externally, not just use it for themselves. Now, that is great news for shareholders because Meta needs to monetize more of that investment. Now, Meta is similar to the major cloud infrastructure plays like Amazon Web Services, Google Cloud, and Microsoft Azure… All of these neocloud stocks got crushed last week when they heard that Meta wants to get in on the action.
Meta’s been one of the industry’s biggest clients; now, it wants to become a competitor. The bears ran wild in response, arguing that we’ve built too many of these data centers, and it’s the dot-com collapse all over again. How many times have you heard that?