Selling computing power by META isn’t pointing to an oversupply of AI production capacity.

It’s because it’s currently very short on cash.
They lost about 70–80 billion US dollars from that “glasses” stunt.
The whole company originally had unlimited tokens, but now it’s also limited.
Then they carried out large-scale layoffs to optimize costs for the earnings report.
The large model they funded themselves to build still couldn’t be completed.
I watched an interview video with a META employee.
He said Zuckerberg’s “wolf-like” culture is too aggressive—just like Musk.
A company with a wolf-like culture can’t do AI well; it’s not flat enough.
Zuckerberg wants to do everything, but can’t do anything well.
This drop yesterday—everyone completely overthought it.
Storage rose too much earlier and is currently in a shakeout phase.
After SK Hynix goes public, it should gradually recover.
The other popular stocks are the same.
The growth logic behind the entire AI main theme hasn’t changed.