Meta's shift to cloud via startups instead of Amazon

Meta plans to create a dedicated division to sell and manage cloud computing services, aiming to compete with major tech giants like Amazon and Microsoft by selling excess computing power from its data centers to boost profits. The plans will include the potential sale of AI models hosted on its infrastructure, with a focus on a new sector called "Compute," led by a specialized team. These announcements caused Meta's stock to rise by 9.3%, while competitors' stocks, such as CoWorx, declined by 14%.

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