Jul. 1 at 1:09 PM
$META $AMZN $MSFT $GOOGL
Meta building cloud business to sell access to AI computing, Bloomberg reports
Meta (META) is developing a cloud infrastructure business that would sell access to AI computing power and models, potentially monetizing excess data center capacity while creating a new competitive front against major cloud providers like AWS (AMZN), Microsoft Azure (MSFT), and Google Cloud (GOOGL), Bloomberg's Riley Griffin and Kurt Wagner report. According to people familiar with the matter, one potential plan includes selling access to various AI models that are hosted on Meta's existing AI infrastructure, an approach similar to AWS's Bedrock offering, and the company is also considering selling access to "raw" computing capacity. Development of these new business lines is part of Meta Compute, an internal initiative to build and manage the company's AI infrastructure efforts, one person says. Shares of Meta are up nearly 6% in premarket trading.
