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Update: Market Chatter: Meta Forming Cloud Business to Sell Excess AI Compute

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(Updates with Meta's response to a request for comment in the last paragraph.)

Meta Platforms (META) is building a cloud infrastructure business to sell access to AI computing power and models, setting up a new area of competition with Amazon (AMZN) Web Services, Microsoft (MSFT) Azure and Alphabet's (GOOG, GOOGL) Google Cloud, Bloomberg reported Wednesday, citing people familiar with the matter.

One possible plan is for Meta to sell access to various AI models that are hosted on its existing AI infrastructure, similar to AWS' Bedrock offering, the people reportedly told Bloomberg.

Meta declined to comment to.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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