Meta Stock Hits $612 After Cloud Plans Offset AI Reorg Delays

Meta shares surged as much as 9% to $612.91 after July 1 reports that the company would sell excess AI compute capacity via a new cloud business challenging AWS, Azure and Google Cloud. The rally reversed weeks of negative sentiment from 8,000 layoffs, the unwind of the $2 billion Manus acquisition and executive departures. On July 4, CEO Mark Zuckerberg warned that AI reorganization and agent development have not progressed as quickly as hoped, tempering optimism ahead of earnings while Meta maintains $125-145 billion 2026 capex guidance.