Meta Builds First Data Center in Alberta, Canada
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 4 hours ago
0mins
Source: Newsfilter
- Massive Investment: Meta is set to build a 1 gigawatt data center in Alberta, Canada, with an estimated cost of $9 billion and a construction timeline of two to three years, significantly enhancing its competitive edge in AI infrastructure.
- Energy Advantages: Alberta is an attractive development location due to its ample energy supply and favorable regulatory environment, with Meta highlighting the region's good infrastructure access and robust electric grid as key factors for project success.
- Job Creation: The project will support over 3,000 construction workers at its peak, and Meta plans to invest in local infrastructure and provide funding to nonprofits, thereby boosting the local economy.
- Cloud Computing Expansion: In addition to the data center, Meta is planning to launch a cloud computing business that could involve selling excess capacity to third parties or offering access to hosted AI models, aiming to diversify revenue streams amid market competition.
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Analyst Views on META
Wall Street analysts forecast META stock price to rise
44 Analyst Rating
37 Buy
6 Hold
1 Sell
Strong Buy
Current: 600.290
Low
655.15
Averages
824.71
High
1117
Current: 600.290
Low
655.15
Averages
824.71
High
1117
About META
Meta Platforms, Inc. is building human connections, powered by artificial intelligence and immersive technologies. The Company's products enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality (VR) and mixed reality (MR) headsets, augmented reality (AR), and wearables. It also helps people discover and learn about what is going on in the world around them, enabling people to share their experiences, ideas, photos, videos, and other content with audiences ranging from their closest family members and friends to the public at large. The Company's segments include Family of Apps (FoA) and Reality Labs (RL). FoA segment includes Facebook, Instagram, Messenger, WhatsApp and Threads. RL segment includes its virtual, augmented, and mixed reality related consumer hardware, software and content. Its product offerings in VR include its Meta Quest devices, as well as software and content available through the Meta Horizon Store.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- New Revenue Stream: Meta may create a new revenue stream by renting out its excess computing capacity, a strategy similar to SpaceX's successful model, which could generate over $2 billion in monthly revenue, highlighting the profitability potential of this market.
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See More
