EL7.AI
StocksMediumUpdated•Originally published 1 July 2026•Updated 1 July 2026•
1 min read

Meta Surges 10% on Plans to Build AI Cloud Business for External Customers

Key Facts

1Meta shares rose nearly 10% to $619.44 after a report that the company is building a cloud business to sell excess AI computing capacity.

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.

This 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.

Sources:proactiveinvestors.co.uk