Meta jumps on report it is building cloud business to sell excess AI capacity

IREN

01/07/2026 15:03

** Shares of Facebook parent Meta Platforms META.O rise 7.3% to $604.50
** Meta is building a cloud business to sell excess AI computing capacity, Bloomberg News reports
** Reuters could not independently verify the report
** Neocloud stocks fall after the report; Nebius NBIS.O drops 13% to $240.30, CoreWeave CRWV.O falls 11.3% to $88.45 and Iren IREN.O slips 4.1% to $43.84  
** Including session's moves, META down about 9.2% YTD 

 (Reporting by Anzar Mehraj in Bengaluru)
 ((Anzar.Mehraj@thomsonreuters.com;))