Story perspectives

Meta Shares Surge 20% After AI Cloud Launch

7/11/2026

Summary

Story summary

Meta Platforms’ shares rose from the mid-$540s in late June to $669.21 on July 10, 2026, a 20% gain.
The surge followed Meta’s launch of Meta Compute, an AI cloud unit that will sell compute power and models.
After Wolfe Research upgraded Meta to Outperform with an $800 target, Meta raised its 2026 spending forecast to $125 billion–$145 billion and plans Iris AI chip production in September 2026 and data-center expansion to 14 gigawatts by next year.

History

Historical Context

Amazon Web Services introduced S3 in March 2006 and EC2 in August, creating the first large-scale IaaS platform. Microsoft followed with Azure in February 2010, while NASA and Rackspace launched the OpenStack project five months later, spurring open-source cloud adoption. Today AWS holds about 33 % of the global cloud-infrastructure market, ahead of Azure’s 21 % and Google Cloud’s 10 %.

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Story summary

Meta Platforms’ shares rose from the mid-$540s in late June to $669.21 on July 10, 2026, a 20% gain.
The surge followed Meta’s launch of Meta Compute, an AI cloud unit that will sell compute power and models.
After Wolfe Research upgraded Meta to Outperform with an $800 target, Meta raised its 2026 spending forecast to $125 billion–$145 billion and plans Iris AI chip production in September 2026 and data-center expansion to 14 gigawatts by next year.

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