Meta Platforms shares jump as analysts lift price targets on AI capacity rental plan

Meta Platforms Inc. saw its stock rise about 9.5% to $595.11 after reports that the company plans to rent out excess artificial‑intelligence compute capacity. The news prompted a wave of analyst upgrades, with ten Wall Street experts issuing new forecasts in the first two days of July. UBS set the highest 12‑month target at $865, while Citi and Mizuho saw the shares reaching $850 and $835 respectively. A few analysts held a neutral stance, with one target at $710.

Separately, institutional investor BXM Wealth LLC reduced its holding in Meta by 92.9%, selling 19,814 shares and leaving a stake valued at $864,000. Other investors have adjusted their positions, but the overall market sentiment remained positive, driven by the anticipated revenue from renting AI compute resources.