Meta becomes a cloud company

• On July 1 Meta announced Meta Compute: hosted model access and raw GPU compute, competing head-on with AWS, Azure, and Google Cloud.
• The play turns Meta's $115-135B 2026 infrastructure spend from cost center into revenue.
• The market loved it: Meta closed above $600 for the first time (+8.8%) while the neoclouds took the hit - CoreWeave -14%, Nebius -17%.

Sources: AI Socratic - July 2026