WS #11208
Meta confirmed plans to build a cloud business selling excess AI compute, sending META +8.81% and crushing CoreWeave and Nebius. Memory and chip stocks plunged on rotation out of AI winners: MU -10.41%, SNDK -10.50%, INTC -9.03%, KLAC -9.71%, LRCX -9.71%. Apple is in talks to buy memory chips from blacklisted Chinese firms CXMT and YMTC, risking US regulatory backlash.
Meta Cloud Business Disruption
Meta confirmed plans to build a cloud business selling excess AI compute, sending META +8.81% and crushing CoreWeave and Nebius.
Memory and chip stocks plunged on rotation out of AI winners: MU -10.41%, SNDK -10.50%, INTC -9.03%, KLAC -9.71%, LRCX -9.71%.
Apple is in talks to buy memory chips from blacklisted Chinese firms CXMT and YMTC, risking US regulatory backlash.