Meta Plans Cloud Business Launch During July 29 Earnings

Reports from Bloomberg and The New York Times indicate that Meta Platforms is preparing to announce a new cloud computing business during its second-quarter earnings report on July 29. The move aims to monetize the company's significant AI infrastructure investments, with planned capital expenditures for the year estimated between $125 billion and $145 billion.

CEO Mark Zuckerberg has previously stated that a cloud business is "definitely on the table," mentioning that the company receives weekly inquiries for such services. This strategy would provide Meta with a critical revenue stream to reduce its reliance on core advertising income.

As part of this expansion, Meta is reportedly negotiating a deal with Anthropic to lease computing power. The potential agreement is valued at $10 billion over two years, marking a significant step in Meta's transition toward providing infrastructure as a service.