What happened
Meta's shares extended their intraday gain to 10%, trading at $733.6 per share, according to a report from Cailianshe.
The move followed the company's announcement of the Petal subsea cable connecting France and the United States.
The cable is expected to enter service in 2029, with capacity set to double to the petabit level.
Why it matters
The scale of the single-day move suggests investors read the cable announcement as meaningful for Meta's infrastructure position, though the source material does not specify what drove the reaction.
Subsea capacity at the petabit level, if delivered as described, would represent a substantial expansion of the company's stated connectivity footprint, based on the figures provided.
Key facts
Meta's intraday gain widened to 10%.
Meta traded at $733.6 per share.
The Petal subsea cable links France and the United States.
The cable is expected to be operational in 2029.
Capacity is expected to double, reaching the petabit level.
What to watch next
Whether the share move holds through the close, given the report describes an intraday gain.
Further company statements on the Petal cable's timeline and capacity as the 2029 target approaches.
