Meta enters cloud computing with Meta Compute, directly challenging AWS

On July 1, Meta announced the formation of Meta Compute, a cloud business unit that opens Meta's massive AI infrastructure to external customers, directly competing with AWS, Azure, and Google Cloud. Meta's stock broke $600 for the first time on the news. Meta's 2026 capital expenditure guidance remains at $115-135 billion, primarily directed at AI infrastructure. Meta has also signed a multi-year, multi-gigawatt chip cooperation agreement with NVIDIA.