Meta (META)’s Data Center is a “Big, Hard Thing to Do,” Says Jim Cramer

We recently published 12 Stocks on Jim Cramer’s Radar.  Meta Platforms, Inc. (NASDAQ:META) is one of the stocks on Jim Cramer’s radar.

As is the case with other technology giants, Meta Platforms, Inc. (NASDAQ:META) has positioned itself to be a key player in the AI race. The firm differs from players such as Google and Amazon through the fact that it does not operate a cloud computing business. Yet, while Google, Amazon, and Microsoft spend on AI data centers to bolster their cloud computing capabilities, Meta Platforms, Inc. (NASDAQ:META) continues to spend just as much despite not being a major player in the industry. The spending has also seen the focus of analysts, with TD Cowen commenting on December 4th that the firm’s decision to cut back its metaverse spending could counter the increased spending on AI infrastructure. TD Cowen kept a Buy rating and an $810 share price target for Meta Platforms, Inc. (NASDAQ:META)’s shares.

Photo by Timothy Hales Bennett on Unsplash

The firm’s infrastructure spending includes a major data center it is building in Louisiana. Meta Platforms, Inc. (NASDAQ:META)  announced on December 4th, 2024, that it was building a $10 billion data center in the state, and recent media reports have suggested that costs have ballooned to $27 billion. During this episode, Cramer and his co-hosts discussed reports of CoreWeave’s Texas data center project struggling, and Meta Platforms, Inc. (NASDAQ:META) factored into the discussion:

“Look, the thing that Zuckerberg is doing in Louisiana, if you went down there, the one that’s the size of Queens . . .these are big, hard things to do.”

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Disclosure: None. This article is originally published at Insider Monkey.