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$Meta Platforms, Inc.(META)$ was the one stock that rose while the rest fell. It jumped by 8.8% to USD 612.91 because Meta did something the market did not expect.
Meta announced a new cloud computing business called Meta Compute. Instead of just spending USD 125 billion to USD 145 billion in AI infrastructure, Meta will now sell excess AI compute capacity to enterprises. Meta is now directly competing with AWS, Azure and Google Cloud.
This has flipped the entire narrative. Meta's massive data centre buildout now looks like a future profit engine, not a cost sink.
Analysts have immediately reiterated bullish targets of USD 720.
Meta has turned its biggest weakness - big capex into a source of revenue. The market has rewarded it.
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