Meta Pledges $21 Billion to CoreWeave in Monumental AI Agreement
Meta Platforms announced on Thursday that it is broadening its collaboration with AI cloud provider CoreWeave via a new $21 billion agreement, which will run until December 2032. This highlights the fierce competition in the field of artificial intelligence infrastructure.
The agreement builds upon a previous $14.2 billion contract signed in September, raising Meta’s total commitment to CoreWeave to an estimated $35 billion. CoreWeave will supply dedicated AI cloud capacity across multiple data centers, featuring early deployments of Nvidia’s next-generation Vera Rubin computing platform.
“This is another example that leading companies are choosing CoreWeave’s AI cloud to run their most demanding workloads,” said CoreWeave CEO Michael Intrator.
The expanded agreement aids CoreWeave in diversifying its revenue base, ensuring no single customer represents more than 35% of total sales, a significant decrease from Microsoft’s 62% share in 2024.
For Meta, the deal bolsters its aggressive AI expansion as the company plans to spend between $115 billion and $135 billion on capital expenditures in 2026, nearly double its 2025 spending. This comes on the heels of Meta’s recent launch of Muse Spark, its first model from Meta Superintelligence Labs, as the company vies with Google, OpenAI, and Apple in AI capabilities.
Following the announcement, CoreWeave shares saw an approximate 5% increase in afternoon trading, while Meta experienced a roughly 3% gain. The deal is one of the largest AI infrastructure contracts in industry history.
Source: CNBC