Meta Platforms is working on a new cloud computing business that would allow customers to purchase AI infrastructure and model access, setting the stage for direct competition with major cloud providers including Amazon Web Services, Microsoft Azure, and Google Cloud, Bloomberg reported Wednesday.

The company is reportedly evaluating services ranging from hosted AI models similar to AWS Bedrock to raw compute rentals comparable to specialized AI cloud providers like CoreWeave.

The proposed business is being developed through Meta Compute, the company’s internal AI infrastructure organization, as Meta continues to invest hundreds of billions of dollars in data centers and advanced computing hardware.

The strategy is intended to help monetize those investments while supporting demand from developers and enterprises building AI applications.

The report boosted Meta shares by more than 9%. Meta CEO Mark Zuckerberg has previously indicated that selling AI APIs and excess computing capacity remains under consideration, saying that building abundant infrastructure now provides flexibility as AI demand continues to outpace available computing resources.