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Finance
Can Meta Platforms Become a Neocloud? Don't Hold Your Breath.
Meta Platforms is several years away from providing neocloud services, while neocloud pure plays are rapidly expanding their gigawatt pipelines.
Meta Platforms(NASDAQ: META) recently made a big announcement that caused neocloud stocks like Nebius(NASDAQ: NBIS) and Iren(NASDAQ: IREN) to stumble. Facebook's parent company said it would explore building its own neocloud business and renting out its excess compute capacity.
That aligns with the company's earlier announcement of intent to build tens of gigawatts of AI data centers this decade and hundreds of gigawatts of capacity over time. However, investors shouldn't rush to imagine Meta Platforms running a vibrant neocloud division under its corporate umbrella.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
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