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Meta Compute Unit Sparks Global Chip Selloff as Neocloud Stocks Plunge

Meta's announcement of a new compute-leasing unit sent chip and neocloud stocks tumbling globally, with Micron down over 10% and CoreWeave falling 14%, while Meta's own shares jumped nearly 9%.

July 2, 2026

Meta Compute Unit Sparks Global Chip Selloff as Neocloud Stocks Plunge