Meta enters AI cloud market

On July 1, 2026, Bloomberg reported that Meta Platforms is planning to sell access to its excess AI computing power and models, forming a new business unit internally dubbed 'Meta Compute'. Meta will offer both raw GPU computing capacity and remote access to its infrastructure for third-party AI model deployment, similar to Amazon — Amazon Web Services Bedrock. This move aims to monetize idle capacity from Meta's planned $145 billion AI infrastructure investment in 2026. The news boosted Meta's stock by 8.6% but caused CoreWeave's shares to drop nearly 14% as Meta is both a client (with a $21 billion deal through 2032) and a potential competitor. CoreWeave's other major customers include Jane Street Group and IBM, while Microsoft remains its largest customer. Analysts expect CoreWeave's revenue to grow from $5.1 billion in 2025 to $40.3 billion by 2028, and the pullback is seen by some as a buying opportunity.