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Update: Market Chatter: Meta has Become One of Microsoft's Biggest AI Customers

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

Meta Platforms Inc (META) has become one of Microsoft's (MSFT) largest artificial intelligence customers, as the social media company is spending hundreds of millions of dollars per year to access AI models through Microsoft's Azure cloud service, Bloomberg reported Thursday, citing a person familiar with the matter.

The person reportedly said that Meta uses trillions of tokens -- the unit of consumption for AI computing -- each week via the platform.

Microsoft declined to comment to. Meta didn't immediately reply to a request for comment from.

(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.)

Price: $542.18, Change: $-3.86, Percent Change: -0.71%

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