Meta getting into the cloud business has been inevitable for a long time, as it seeks to diversify beyond ad revenue and monetize its AI buildout (M.G. Siegler/Spyglass)

Summary

M.G. Siegler / Spyglass: Meta getting into the cloud business has been inevitable for a long time, as it seeks to diversify beyond ad revenue and monetize its AI buildout — Their need to diversify the business meets the AI build out concerns... Meta has a problem. Well, two of them, actually.

SpinGraph analysis pending — check back after processing.

• Meta could use its compute for its own models, ad scaling, SpaceX-like neocloud deals, and hosting 3rd-party models; it may be close to an Anthropic deal (Jeremie Eliahou Ontiveros/SemiAnalysis)
• Instagram has been running ads promoting child sexual abuse material in India, with terms like "rape video" and "child video" and linking to Telegram channels (Divya Arya/BBC)
• An interview with Sriram Krishnan, who says "there will not be an FDA for AI" under Trump, blames the AI backlash on the industry's "doomer" messaging, and more (Financial Times)
• Texas AG Ken Paxton opens an investigation into StubHub following complaints of last-minute ticket cancellations for FIFA World Cup matches (Giles Turner/Bloomberg)
• How Jeff Bezos' changing relationship with President Trump has impacted his companies, including increased federal contract awards during Trump's second term (Wall Street Journal)
• Pitch document: Chris Larsen and Palmer Luckey invested an undisclosed amount in APEC, a derivatives exchange founded by the son of Senator Kirsten Gillibrand (Declan Harty/Politico)