Meta CEO Mark Zuckerberg Just Delivered Fantastic News for Investors
Yahoo Finance ·
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 ( META +2.59% ) has faced particular investor scrutiny because, unlike Amazon , Alphabet , and Microsoft , it doesn't currently sell cloud computing services to outside companies. 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. Nobody's quite sure where the data center boom will ultimately go, but it's clear that AI is sending demand for computing capacity through the roof. Experts believe global data centers will bring tens to hundreds of gigawatts of compute online over the next decade and beyond.
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