Meta Platforms & Alphabet Inc. — Google Cloud Platform

Meta Platforms: Meta Platforms is developing a new cloud business to sell its excess AI computing capacity and hosted AI models, aiming to diversify revenue beyond advertising and monetize its significant AI infrastructure investments. This move is expected to boost its stock price and market position.

Alphabet Inc. — Google Cloud Platform: Alphabet Inc. — Google Cloud Platform, a subsidiary of Alphabet Inc., will encounter new competition from Meta Platforms' cloud business, as Meta seeks to sell AI computing power and models, directly challenging established players.