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• Reports indicate Meta is launching a cloud business called Meta Compute to monetize excess AI capacity.
• The company announced a 1-for-25 reverse split effective July 6, 2026.
• The company priced a $23.7 million private placement of common stock and pre-funded warrants.
• The decline followed an 11.29% drop in the prior session.
• The decline extends a 6.1% slide from the prior trading session.
• Q1 revenue reached $12.25 billion, up 16% year over year.
• The broader technology sector benchmark fell approximately 0.57% over the same period.
• Sector chip stocks fell roughly 6.3% in the prior session.
• The move follows a more than 10% decline in the prior session.
• The move follows a 6.9% decline in the prior session.
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