Meta stock surges 15% in best weekly rally since early 2024, fueled by AI momentum

Meta Platforms just had the kind of week that makes portfolio managers forget about all those awkward metaverse years. Shares closed at $669.21 on July 10, capping a roughly 15% weekly gain that represents the company’s strongest five-day performance since early 2024.

The stock surged approximately 6% on July 10 alone. That single-day move added about $12 billion to CEO Mark Zuckerberg’s net worth.

What’s driving the rally

On July 7, Meta Superintelligence Labs launched Muse Image, an AI image generation tool. Two days later, the company rolled out upgrades to its Muse Spark model.

Reports surfaced that Meta plans to begin production of its custom “Iris” AI chip in September 2026. The chip is expected to double the company’s computing capacity.

Meta is targeting a total of 7 gigawatts of computing infrastructure by the end of 2026, with plans to scale that to 14 gigawatts by 2027.

Why crypto investors should pay attention

Meta’s AI buildout intersects with crypto in one important way: infrastructure. The massive computing capacity Meta is assembling, measured in gigawatts, represents the same kind of GPU and data center resources that power certain blockchain networks and decentralized AI projects. As hyperscalers like Meta lock up chip supply and data center capacity, smaller players in the crypto-AI crossover space could face tighter hardware markets and higher costs.

The bigger picture for markets

Meta’s rapid product cadence, launching Muse Image and upgrading Muse Spark within days of each other, suggests the company has moved past the research phase and into deployment.

Protocols building decentralized AI compute networks are effectively competing with Meta for the same underlying resources: chips, energy, and engineering talent. When Meta commits to doubling its computing infrastructure in a single year, that’s not just a stock story. It’s a supply constraint story that ripples across every sector touching AI hardware.

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