Meta CEO Mark Zuckerberg Just Delivered Fantastic News for Investors
The company doesn't plan to let its hefty data center investments go to waste.
Overview
As big tech companies pour billions of dollars into data centers for artificial intelligence (AI), investors are growing concerned about whether all this spending will actually pay off. Meta Platforms (NASDAQ: META) has faced particular investor scrutiny because, unlike Amazon, Alphabet, and Microsoft, it doesn't currently sell cloud computing services to outside companies.
But it seems that's about to change.
Details
According to a Bloomberg report, Meta is developing a business plan to lease its excess data center capacity. It's fantastic news for investors and comes on the heels of Mark Zuckerberg's January announcement of Meta Compute, an initiative to build tens of gigawatts of compute capacity this decade.
Source
Originally published at www.fool.com.