Shares of Meta Platforms surged nearly 12% in Wednesday’s trade, 1 July, climbing to $628 on the Nasdaq after a report said the social media giant is preparing to launch a cloud computing business that would sell AI computing power to external customers. The move could position Meta as a challenger to cloud leaders Amazon and Microsoft.
According to a Bloomberg report published Wednesday, Meta is exploring new ways to monetise the massive AI infrastructure it has been building for its own products. One option under consideration is offering developers access to Meta-hosted AI models, similar to Amazon Web Services’ Bedrock platform.
Another proposal involves renting out raw computing capacity, allowing customers to directly access Meta’s and AI chips. The initiative is part of Meta Compute, an internal project that oversees the company’s rapidly expanding AI infrastructure.
The report reinforces comments Mark Zuckerberg made in May, when he said launching a cloud computing business was “definitely on the table.” Zuckerberg also suggested Meta could eventually monetise excess computing capacity or offer paid AI services, creating a new revenue stream as demand for AI infrastructure continues to accelerate.
Since the beginning of the year, Meta has announced multi-billion-dollar partnerships with Nvidia, Advanced Micro Devices (AMD), and for AI chips and related hardware, while simultaneously investing heavily in large-scale data centres to support its AI ambitions.
However, the massive spending has also raised investor concerns about how quickly the company can generate meaningful returns on those investments.
Meta’s plan to sell excess AI computing capacity comes weeks after SpaceX announced a similar move. Last month, Anthropic signed a deal with to use the full computing capacity of its Colossus 1 AI data centre in Memphis, gaining access to more than 300 megawatts of AI compute power.
Big Tech companies are currently locked in an intense race for AI dominance, pouring enormous sums into data centres, semiconductors, and related infrastructure. The world’s four largest technology companies, including, are expected to spend as much as $725 billion on AI-related investments this year.
Stock remains below record high
Despite Wednesday’s sharp rally, Meta shares remain significantly below their recent peak as investors continue to assess the company’s aggressive AI spending strategy.
Shares of the Facebook and Instagram parent have struggled to regain momentum since hitting a record high of $796 in August 2025.
The stock has closed lower in six of the past 11 months, resulting in a cumulative decline of 27%. As a result, it currently trades about 21% below its all-time high (based on the intraday price of $628, not 30%).
The recent correction follows an extraordinary rally between November 2022 and July 2025, when the stock surged from $93.16 to $773, delivering returns of nearly 730%.
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