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The Economic Times
The Economic Times
Business

US Stocks: Meta building cloud business to sell AI computing, says report; shares rise

Amazon Meta Microsoft Mark Zuckerberg

Meta Platforms is building a cloud business to ​sell excess AI computing ​capacity, Bloomberg News reported on Wednesday citing people ​familiar with the matter.

The move could reduce Meta's reliance on advertising revenue and help it take on major cloud companies, including Amazon, Microsoft ‌and Alphabet.

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