Meta Reportedly Sells Excess Computing to Monetize AI Spending

Reports from Bloomberg News and financial commentator Jim Cramer indicate that Meta Platforms, Inc. has decided to sell excess computing, involving a power deal with Entergy. This strategy aims to monetize the company's significant spending on infrastructure, a move Cramer suggests could increase the share price by a hundred points.

Despite these reports, Meta shares fell 1.6% following the news, adding to a 7.3% year-to-date decline. Meta Platforms has not yet confirmed the specific details of the arrangement.