Meta Platforms Just Unveiled a Shocking New Artificial Intelligence (AI) Strategy
The social media company's plan to become a cloud computing provider could shift the market's sentiment toward the stock.
Overview
When pundits and investors talk about artificial intelligence (AI) hyperscalers, Meta Platforms (NASDAQ: META) always gets included in the group. However, the other three members of the big four -- Alphabet, Amazon, and Microsoft -- have something in common that Meta doesn't share: cloud computing business units.
Those other three have been monetizing their data centers by leasing capacity to outside clients, while Meta has been self-funding its build-out, and expecting to use all the capacity it can create in-house. There's been no direct monetization path in sight.
Details
However, that may be changing. According to reports, Meta now intends to build a cloud business and lease out its excess AI computing capacity. That's a major shift in policy, as CEO Mark Zuckerberg previously noted that Meta was using all of its capacity for internal workloads.
Source
Originally published at www.fool.com.