Meta building cloud business to sell excess AI capacity, Bloomberg News reports
· Reuters
AI Briefing
- • Meta builds cloud business to sell excess AI computing capacity.
- • The move comes as tech giants seek returns on costly AI investments.
- • Plans are still in development, with potential strategy changes possible.
Context
Meta Platforms is building a cloud business to sell excess AI computing capacity, according to a report by Bloomberg News. The company is considering a service that would allow developers to access AI models hosted on its platform. The plans for this cloud business are still in development.
The development of this cloud business matters as tech giants like Meta seek returns on their costly AI investments. Companies are worried about overspending on AI, and selling excess capacity could help them generate revenue and offset costs.
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