Meta Platforms (NASDAQ:META) cloud report sends shares higher, weighs on CoreWeave (NASDAQ:CRWV), Nebius (NASDAQ:NBIS)
Shares of Meta Platforms rallied Wednesday following a Bloomberg News report that the Facebook owner is planning to launch a cloud service, selling extra AI computing power. That move could help address investor concerns about high AI costs by adding a new source of revenue. Reuters, quoting the Bloomberg story, said it could not verify the report, and Meta did not reply to a Reuters request for comment.