Business
$10B

$10 billion — thats the minimum amount Meta will be spending to use Googles cloud service over the next six years.

As The Information first reported on Thursday, Meta signing a deal with Google Cloud is a big win for Alphabet as it aims to catch up with rivals Amazon Web Services and Microsoft Azure. In June, the tech giant also secured a deal with OpenAI, which had previously been dependent on Microsoft’s services.

According to sources familiar with the matter, the new agreement will mainly cover Metas artificial intelligence infrastructure. Though the company’s been pulling back on its headcount in AI, it’s still an area the company is investing heavily in, with total expenses expected to run between $114 billion and $118 billion in total this year, per its earnings report last month.

More Business

See all Business

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, or Robinhood Money, LLC.