Why Meta Platforms Stock Surged Today
Shares of Meta Platforms (NASDAQ: META) surged higher on Monday. The company's stock gained 3.9% as of market close, but was up as much as 4.4% earlier in the day. The move up comes as the S&P 500 (SNPINDEX: ^GSPC) and Nasdaq Composite (NASDAQINDEX: ^IXIC) gained 1.8% and 2.3%, respectively.The social media giant is in talks with a major Indian conglomerate to expand its artificial intelligence (AI) footprint in the country.It was reported this weekend that Meta had held discussions with Reliance Industries, a massive conglomerate and the largest company in India. The two are looking to reach a deal that would expand Meta's AI offerings in the rapidly developing country. The partnership would see Meta's AI models hosted by Reliance in the new AI data center it plans to build in Jamnagar, Gujarat. When completed, it will be the largest of its kind in the world, according to the company.Continue reading
Shares of Meta Platforms (NASDAQ: META) surged higher on Monday. The company's stock gained 3.9% as of market close, but was up as much as 4.4% earlier in the day. The move up comes as the S&P 500 (SNPINDEX: ^GSPC) and Nasdaq Composite (NASDAQINDEX: ^IXIC) gained 1.8% and 2.3%, respectively.
The social media giant is in talks with a major Indian conglomerate to expand its artificial intelligence (AI) footprint in the country.
It was reported this weekend that Meta had held discussions with Reliance Industries, a massive conglomerate and the largest company in India. The two are looking to reach a deal that would expand Meta's AI offerings in the rapidly developing country. The partnership would see Meta's AI models hosted by Reliance in the new AI data center it plans to build in Jamnagar, Gujarat. When completed, it will be the largest of its kind in the world, according to the company.
