Meta stock pops on news it will reportedly start a cloud computing business

Meta (META) will reportedly begin selling computing capacity similar to Amazon's (AMZN) AWS and Microsoft's (MSFT) Azure, as it seeks to generate new lines of revenue amid its massive AI spending spree.

According to Bloomberg, the plans call for Meta to form a new business segment that would sell excess capacity to third-party customers.

The company could potentially host AI models in its data centers and charge developers to access them. It's also looking into serving as a neocloud business that would sell access to its hardware, similar to CoreWeave (CRWV).

Meta stock rose more than 7% on the report.

Meta CEO Mark Zuckerberg previously teased the idea that the company is looking into standing up its own cloud business during prior investor calls, though never confirmed that Meta was actively working on such a strategy.

"Almost every week there are different companies that come to us from outside asking us to both stand up an [application programming interface] service, or asking if we have compute that they could buy from us at some premium to what we've bought it at," Zuckerberg said during the company's shareholders meeting in May.

"We haven't done that yet, because we th

Fuente original: Yahoo Finance (https://finance.yahoo.com/technology/article/meta-stock-pops-on-news-it-will-reportedly-start-a-cloud-computing-business-134412120.html)