Meta to sell excess AI computing capacity via cloud business, Bloomberg News reports

Meta Platforms is building a cloud business to sell excess AI computing capacity, according to a Bloomberg News report. Shares of the company rose over 6% in premarket trading following the news.

July 1 Reuters - Meta Platforms is building a cloud business to sell excess AI computing capacity, Bloomberg News reported on Wednesday citing people familiar with the matter. Shares of the company were up more than 6% in premarket trading. Reuters could not independently verify the report. Reporting by Anhata Rooprai in Bengaluru; Editing by Jonathan Ananda