Can Meta Platforms Become a Neocloud? Don't Hold Your Breath.

Meta Platforms announced plans to explore a neocloud business by renting excess compute capacity, but the company is years away from having surplus capacity. Meta and other hyperscalers are currently scrambling to secure computing power for their own AI initiatives, meaning they won't have available capacity to lease to external customers anytime soon. Dedicated neocloud companies like Nebius and Iren are better positioned to capture market share in this emerging industry.