Meta shares jump after company announces new cloud infrastructure business

CNBC's Julia Boorstin reports that Meta is developing an AI cloud compute business to sell excess computing power, confirming earlier hints from Mark Zuckerberg. The move is seen by UBS analysts as demonstrating financial discipline and could monetize massive capital expenditures, sending Meta shares higher. Shares of rival AI cloud firms CoreWeave and Nebulous Group dropped sharply on the news. - Meta confirmed to be building a cloud infrastructure business to sell AI compute to outside customers. - Mark Zuckerberg previously discussed the opportunity to sell compute at a premium. - The business could help monetize up to $145 billion in planned 2025 capital expenditures. - UBS analysts said the move shows financial constraint from Zuckerberg, a bullish signal. - Meta shares jumped on the announcement. - AI cloud competitors CoreWeave and Nebulous Group fell over 10% each.