Mark Zuckerberg's Meta Stock Surged 9% on New Cloud Business Plan

Meta announced a new cloud computing business where it will lease surplus computing power to customers, causing its stock to surge 9% on July 1. The move addresses investor concerns about the company's $145 billion AI infrastructure spending and positions Meta to compete with Amazon, Microsoft, and Alphabet in cloud services. Meta is also launching Muse Image, an AI image generation model for advertisers.