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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
In a strategic shift to diversify revenue beyond advertising, Meta is reportedly building a cloud business to sell its excess AI computing capacity to external customers. According to a Bloomberg report, META shares surged nearly 10% to $619.44 on the news, closing at $626.04 on July 1, 2026, after hitting an intraday high of $628.18.
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Sign InThis move places Meta in direct competition with cloud giants: Amazon (AWS, AMZN at $294.95), Microsoft (Azure, MSFT at $385.98), and Google (Google Cloud, GOOGL at $361.86) per market data as of July 1. The company has invested billions in AI infrastructure, positioning its excess capacity as a potential new revenue stream with significant upside.
Investors will watch for official confirmation and further details from Meta’s management, especially ahead of Q2 earnings season. Current trading levels show META testing resistance near the session high of $628.18, with support at $595.10 (July 1 close). Broader catalysts include recent US GDP and inflation data, which frame the macroeconomic backdrop for AI cloud demand.