META shares rise to $613 after reports the company may sell excess AI computing power, challenging cloud leaders.
Meta Platforms stock climbed 9% to $613 in morning trading after reports the company plans to sell excess AI computing capacity. The move could transform its heavy capital spending into a new revenue stream, positioning Meta as a competitor to Amazon, Microsoft, and Google in the cloud market.
The rally follows a 7.45% decline year-to-date, as investors questioned the returns on Meta’s aggressive AI infrastructure investments. Analysts note the shift could reframe the company’s capex narrative, though confirmation of the plan is still pending.
CoreWeave shares fell 12% on concerns a well-funded hyperscaler entering the market could pressure pricing for pure-play providers. Polymarket assigns an 84% probability META reaches $620 in July.