AIFortuneabout 2 hours ago
Meta builds cloud business to rent AI computing power
6 min read
Meta is building a cloud business called Meta Compute to sell excess AI computing capacity to outside customers, competing with AWS, Azure, and Google Cloud. The initiative is led by Santosh Janardhan, Daniel Gross, and Dina Powell McCormick. Meta shares rose over 10% on the news, while CoreWeave fell 10.8% and Nebius dropped 12.4%.
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