Tech stocks today: Meta stock jumps on cloud computing plans to rival Amazon, Mi

Tech stocks were down Wednesday morning after wrapping up their best first half of the year since 2023.

The artificial intelligence boom and infrastructure build-out powered many of the gains, with semiconductor and memory stocks leading the sector, while the "Magnificent Seven" stalwarts dragged amid concerns about heavy spending on the technology.

On Wednesday, some of the overspending concerns about Meta's (META) business were eased after Bloomberg reported that the Instagram parent company is building a cloud computing unit that would compete with Amazon (AMZN), Microsoft (MSFT), and Alphabet (GOOG, GOOGL). Meta's stock jumped 6% in premarket trading on the prospect that it could lease any excess computing capacity and recoup some of the expense of building out data centers.

On the AI front, investors also monitored the redeployment of Anthropic's (ANTH.PVT) Fable 5 model after the Trump administration lifted export restrictions on it on Tuesday.

Fuente original: Yahoo Finance (https://finance.yahoo.com/technology/live/tech-stocks-today-meta-stock-jumps-on-cloud-computing-plans-to-rival-amazon-microsoft-151053436.html)