Meta’s Cloud Push Triggers Rally for META, Drag on AI-Infrastructure Stocks

AI infrastructure and semiconductor stocks fell after reports that Meta Platforms is exploring a cloud business to sell excess AI computing capacity and models to external customers, even as META rose about 8% on the news. Investors punished pure-play AI cloud providers Nebius (NBIS) and CoreWeave (CRWV) along with SMCI, and major chipmakers such as Nvidia, AMD, Intel, Arm, TSM and GlobalFoundries also declined. Micron slid about 7% despite a GM supply deal, while networking names like Corning dropped around 10% and other components slipped around 3%. The move underscored a mixed, cautious stance on AI infrastructure stocks despite Meta’s potential cloud ambitions.