Rittenhouse Research: This March, Meta signed a $27 billion cloud service agreement with Nebius. In April, Meta also signed a $21 billion cloud service extension agreement with CoreWeave.

Two weeks ago, Bloomberg reported that Meta had signed a contract to lease 1.6 gigawatts of data center capacity from Crusoe. And just 3 days ago, the Financial Times reported that, due to capacity constraints, Google has limited Meta’s use of Gemini.
So now, all of a sudden, Meta has excess capacity instead?
Actually, I suspect Meta saw SpaceX’s valuation, and some recent deals that sold off excess computing capacity, and then came to the conclusion:
Investors will positively view any willingness to monetize the company’s own computing capacity externally. This will ease its stock price pressure and help it raise funds. And the money raised will be used to purchase and build more computing capacity.
😂😂😂