[AI Computing Power] Meta, the largest buyer, makes a sudden turn; it’s reported to be selling its remaining “computing power.” Micron plunges, sending shockwaves through the AI industry chain.

Meta (US: META) has reportedly announced major strategic changes, sending shockwaves through the AI industry chain. According to Bloomberg, Meta, the largest buyer of computing power, has shifted to selling computing power—generating revenue by selling excess capacity to external clients.

CoreWeave (US: CRWV) fell 12%, Nebius (US: NBIS) dropped 13%, Micron (US: MU) declined 6%, and Meta (US: META) surged 9%.

The report said Meta is developing a cloud infrastructure business plan that would sell access to AI computing power and model access rights. This would launch a brand-new competitive push against industry leaders such as Amazon’s AWS, Microsoft’s Azure, and Google Cloud—and even SpaceX, which is aiming to develop “orbital” computing power, also fell.

Insiders said one potential plan includes selling access rights to various AI models hosted on Meta’s existing AI infrastructure. This approach is similar to AWS’s Bedrock service. Meta would operate the data centers and chips that power these models (including its own Muse Spark model) and charge developers for access.

The company is also considering selling access rights to “raw” computing power, similar to so-called “neocloud” companies such as CoreWeave.

Meta, which has made developing AI “superintelligence” a top priority, has invested tens of billions of dollars into data centers and other AI infrastructure (such as the expensive chips it believes are necessary to achieve that goal). This massive investment has left investors anxious about how Meta will recoup returns from these spending, including major computing-power deals it has reached with companies such as CoreWeave, Google, and Oracle.

The cloud business provides a route to recover part of the investment. AWS, Azure, and Google Cloud took decades to build platforms that rent out access to computing power, storage, and software over the internet—businesses that now generate hundreds of billions of dollars in revenue each quarter.

Meta CEO Mark Zuckerberg has signaled to investors that he is open to selling excess computing infrastructure. He said during the May earnings call, “Almost every week, there are different external companies that come to us—either hoping we will build API services, or asking whether we have computing power we can sell them. Their bids even come with some premium above our procurement price.”

“We’re not doing that yet, because we think we still have a use for this computing power,” Zuckerberg said at the time. “But obviously, if we ever get to the point where we think we’ve built too much, that’s one of the options we have—and that’s also one of the reasons we’re confident in investing in expanding our infrastructure.”