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.

Meta has agreed to spend more than $10 billion on Google Cloud services over six years, according to CNBC. Google is pursuing major cloud contracts to compete with Amazon Web Services and Microsoft Azure,

Google has struck a major cloud computing deal with Meta Platforms, according to two people familiar with the matter. As part of the agreement, the social media giant will use Google Cloud’s servers,