Meta is Opening a New Business Area Related To AI. Investors Are Elated.

Source: International Business Times

Getty Images Meta Platforms shares soared more than 10% on Wednesday after a report that the social media giant is preparing to launch a cloud computing business aimed at selling excess artificial intelligence computing capacity. Bloomberg News detailed that Meta is developing a cloud business that would allow outside customers to access the company's AI infrastructure and computing power, clarifying that the plan remains under development and could still change. Read moreTech Led The Market Again, But America's Biggest Companies Weren't The Biggest Winners.