Meta Platforms (Meta (META)) stock ticked up less than half a percent in Thursday's premarket session as investors digested reports that the tech giant plans to monetize its artificial intelligence infrastructure. Nasdaq futures were down 0.15% while S&P 500 futures gained 0.07%, following a strong Wednesday where Meta shares closed nearly 9% higher.

The quiet trading comes after reports that the Facebook parent is developing an internal initiative called "Meta Compute." The program aims to generate revenue from excess AI computing capacity by renting raw compute to external businesses. That would put Meta in direct competition with specialized AI cloud providers like CoreWeave (CoreWeave (CRWV)), whose stock plunged 13.92% in the previous session on the news. Similarly, rival neocloud platform Nebius Group (Nebius (NBIS)) saw its stock plummet 17.01% as investors processed the competitive threat.

Meta's AI Compute Opportunity

Meta could generate $10 billion to $20 billion in incremental annual revenue by selling excess AI computing capacity, according to Evercore ISI analyst Mark Mahaney. Speaking with CNBC on Wednesday, Mahaney said the most bullish interpretation is that Meta already has excess compute capacity, reducing the need for further sharp increases in capital spending while creating a new high-margin revenue opportunity.

He said Meta is unlikely to compete directly with Amazon's (Amazon (AMZN)) AWS or Microsoft's (Microsoft (MSFT)) Azure. Instead, he believes the company is targeting the emerging neocloud market. If successful, Meta could leverage its scale to compete with specialized AI infrastructure providers while generating a lucrative new revenue stream from assets it has already built.

Mahaney also said investors are underestimating Meta's AI opportunity beyond advertising. He pointed to the company's large base of small businesses using WhatsApp and Instagram, where AI-powered business tools could become another long-term growth driver.

Meta Technical Picture Remains Mixed

Meta continues to trade above its short-term trend indicators, suggesting near-term buying interest remains intact. The stock is trading 6.3% above its 20-day simple moving average of $578.70 and 1.3% above its 50-day simple moving average of $606.95. However, it remains 0.6% below its 100-day simple moving average of $618.41 and 5% below its 200-day simple moving average of $647.42.

The longer-term setup remains cautious. The 20-day moving average is below the 50-day moving average, while the 50-day remains below the 200-day moving average. That "death cross," which formed in December 2025, continues to signal a weak long-term trend despite recent stabilization.

Momentum indicators have improved. The moving average convergence divergence (MACD) remains above its signal line, with a positive histogram, suggesting bullish momentum is building after the previous decline. Technical traders are watching resistance near $625, with the 100-day moving average just below that level. Support is seen around $595, close to the 50-day exponential moving average.

META Stock Price Activity: Meta Platforms shares were trading up 0.21% at $614.20 during premarket trading on Thursday, according to market data.