Google has signed a six-year cloud computing deal with Meta Platforms Inc (NASDAQ:META, ETR:FB2A, SWX:FB) valued at more than $10 billion, according to a source cited by Reuters.
The agreement will see Meta use Google Cloud’s servers, networking and storage as it races to expand its artificial intelligence capabilities.
The deal, first reported by The Information, follows a separate arrangement between Google and OpenAI earlier this year. Neither Google nor Meta have yet commented.
The move comes as Mark Zuckerberg prepares Meta for huge spending on data infrastructure.
In July, he said the company would pour “hundreds of billions of dollars” into new AI data centres.
Meta has since raised its full-year capital spending forecast to as much as $72 billion and is exploring ways to lighten the load by selling off $2 billion of data centre assets.