US Stock Market Move | Meta (META.US) rose by more than 6%, with mining cost much lower than market expectations.

On Friday, Meta (META.US) rose over 6% to $671.24. According to recent media reports, an internal memo showed that the cost of building Meta's AI infrastructure is much lower than market expectations, with a cost of nearly 22 billion dollars per gigawatt of computing power, significantly lower than Wall Street's expected 45 billion dollars. The significant cost savings respond to investors' concerns about the return on Meta's significant capital expenditures. Mark Zuckerberg recently said in a media interview that the entire AI industry is facing a shortage of computing resources, and no company would consider themselves to have "too much" computing resources. Meta's existing computing power is almost entirely used for internal AI research and product training. However, he said that if the market offers a high enough rental price, the company will evaluate whether to rent out some computing resources to external customers instead of using them all for internal projects. He said: "If external offers for computing power are high enough, in some cases, renting out computing power may be more valuable than using it all internally." Earlier this month, there were media reports that Meta is exploring the possibility of launching a cloud computing business, hoping to turn the company's large data centers and AI infrastructure into new sources of revenue. In response, Zuckerberg said Meta "has the capability to build a cloud computing business at any time," but that doesn't mean the company has already built excess computing resources.