Meta has reportedly inked a $10 billion deal with Google for the use of its cloud services.

KEY TAKEAWAYS Meta Platforms has reportedly agreed to spend more than $10 billion on cloud services from Google, as the search giant seeks to catch up with larger rivals in the space, namely Amazon Web Services and Microsoft Azure.

According to Bloomberg, Meta will pay at least $10 billion over six years to use Google Cloud servers and storage to expand its AI capabilities.