Reports that Meta Platforms (NASDAQ: META) would begin renting out excess compute not only moved its stock market price but also triggered a deluge of Wall Street analyst forecast updates by press time on July 2.
At the time of this interview, Schultz was CMO and VP of analytics. A few days after the 2026 Cannes Lions concluded, Meta announced that Schultz would become the company's first chief data officer, passing the CMO title to Denise Moreno.
It's official, Meta Platforms (NASDAQ:META | META Price Prediction) is getting into the business of selling extra AI compute to others.
After slumping for the past year, Meta's stock started the new quarter with a bang on Wednesday, jumping 9%. Wall Street cheered the company's push into cloud computing as CEO Mark Zuckerberg seeks to turn Meta's AI investment into a new revenue stream.
Meta's unconfirmed plan to build a cloud business faces competition from a well funded rival less than 24-hours later.
India has asked Meta to hold off launching its username feature on WhatsApp in the world's most populous country, citing concerns over fraud and impersonation, media reports said Thursday.
Meta shares popped on reports of a new cloud-computing venture, but some analysts wonder if that would signal disappointing uptake of internal AI offerings.
Shares of Meta Platforms jumped more than 6% on Wall Street on Wednesday after a report said the social media giant is preparing to launch a cloud computing business that would sell AI computing power to outside customers.
WhatsApp recently began offering usernames, designed to help people connect while keeping their phone numbers private. Now, the Meta-owned company said it will allow high-profile names to be claimed only by legitimate owners as it tries to prevent impersonation on the messaging platform, Bloomberg News reported Wednesday (July 1).
Meta shares jumped 10% Wednesday following a report the company is planning to sell excess computing power – allowing it to recover some of the billions of dollars it has sunk into AI.
Meta's stock is soaring on signs it could be on the verge of launching a new business.
Meta Platforms (META) is developing a cloud business to monetize excess AI computing capacity, potentially accelerating near-term revenue generation. Nike (NKE) posted strong Q4 results but faces persistent weakness in China, leaving its turnaround trajectory uncertain.