๐ Meta $META surges +7% midday โ AI cloud launch and in-house Iris chip catch bulls off guard
Meta is ripping today on two surprise announcements: the launch of Meta Compute, a new cloud unit that will sell AI compute and models to enterprises, and the news that its in-house Iris AI chip enters production in September. Shares hit ~$673, up from the mid-$540s just two weeks ago. Micron $MU is also up ~5% today on a boosted $250B US investment expansion plan through 2035. Not financial advice. Is Meta seriously challenging Amazon and CoreWeave in the cloud, or are these gains getting ahead of the fundamentals?
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