- Meta Platforms shares rose 8% in pre-market trade after AI cloud plans news
- Meta plans to sell excess AI computing capacity via its cloud business
- Meta aims to compete with Google Cloud, Microsoft Azure, Amazon Web Services
Shares of Meta Platofrms Inc. surged 8% higher in pre market trade after news broke of the company's plan to sell it excess AI computing capacity, according to Bloomberg. The firm will undertake this via its cloud business.
The company has plans for creating cloud infrasturucture for the retailing of access to AI computer capabilities and models. This would make Meta Platforms a competitor to firms such as Google Cloud, Microsoft Azure and Amazon Web Services.
The upcoming project is a part of the company's 'Meta Compute' initiative which involves the constructuon, supervision and control of the company's AI infrastructure, as per a report from Investing.com.
One of the likely business plans includes selling access to wide range of AI models hosted on Meta's existing AI infrastructure, similar to what AWS does with its Bedrock product. The company would control the data centers and chips powering these models, including its proprietary Muse Spark models, and have developers pay to access them.
The company is also facing scrutiny from the Indian government for introducing a 'username' feature in its application 'WhatsApp', due to concerns regarding impersonation.
ALSO READ: Govt Issues Notice To Meta Over WhatsApp's 'Usernames' Feature Amid Impersonation Concerns
The Centre asked Meta to furnish a detailed explanation on the feature's rollout "within three days", NDTV Profit learnt from sources privy to the development.
The company has been asked not to enable the feature for users in India till the consultation on the matter is completed, as per the sources' statements.
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