Mark Zuckerberg's Meta Stock Surged 9% on New Cloud Business Plan
Yahoo Finance ·
Meta Platforms ( META 2.42% ) started the month with a bang. Its shares climbed 9% on July 1 after the company revealed that it will begin leasing some of its surplus computing power to customers. The launch of this new cloud computing business was in line with earlier comments from CEO Mark Zuckerberg, who said on Meta's first-quarter earnings conference call that the social media giant could sell some of its capacity at a premium if it feels that it has overbuilt for its in-house needs.
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