Meta AI Cloud Plans Trigger Rival Selloff, Stock Surges 7%

Meta's reported launch of a 'Meta Compute' cloud unit to monetize excess AI capacity sent CoreWeave and Nebius shares tumbling more than 12% on July 1 while META jumped over 7% to 607.37. The move caps an aggressive infrastructure push that began June 8 with the $115 million Workforce Academy and June 9-10 lease of Reliance's 168 MW renewable facility in India. Subsequent milestones include nearly 1 GW of Indian clean-energy contracts, the June 18 securing of 1.6 GW from Crusoe in Texas and Missouri, and raised 2026 capex guidance of $125-145 billion.