$Meta Platforms(META.US) drifting lower. Now down almost 9% (was down 7% before the comment) in after hours on Cloud comments that it's not a priority.
As for timing of building a Cloud business, Zuck says that while they have a lot of demand for compute, but their higher ROI opportunities is not to sell compute, rather use the compute to drive intelligence for Meta. He kept the door open for them to build a cloud business longer. My take: Don't expect anything big on Cloud anytime soon.Source: Gene Munster
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