CoreWeave Inc. has today signed a deal to supply Meta Platforms Inc. with up to $14.2 billion worth of computing power.
CoreWeave predominantly derives its revenue through the development and leasing of data centers equipped with Nvidia’s graphics processing units, which are essential for training models and executing substantial AI workloads.
In an interview following the announcement, CoreWeave CEO, Michael Intrator, commented, “They loved our infrastructure in earlier contracts and came back for more… When we came out in the IPO, we got dinged because of our customer concentration. This is clearly a step in the right direction for diversification.”
“The agreement underscores that behind every AI breakthrough are the partnerships that make it possible,” a CoreWeave spokesperson said in a statement.
According to today’s filing, the deal lasts until December 2031 with an option to extend through 2032 with additional capacity.
Shares of CoreWeave jumped more than 13% following the announcement.
By CEO NA Editorial Staff
