Meta Platforms (NASDAQ: META) is planning to launch its own cloud computing business, a significant move as it is currently the only major hyperscaler without such a service. According to a Bloomberg report, this decision follows CEO Mark Zuckerberg’s hints that a cloud offering is “definitely on the table.” The announcement has already resulted in a 9% surge in Meta’s stock price, adding approximately $150 billion to its market capitalization.
The new cloud service is still in development, but it is expected to offer bare-metal computing capacity and host AI models, leveraging infrastructure that Meta already owns. Cloud computing is a lucrative sector for major tech companies such as Amazon, Microsoft, and Alphabet, which are experiencing rapid growth driven by demand for AI capabilities. Meta aims to capitalize on this trend, with its existing AI investments providing a competitive edge as it enters the market.
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