CoreWeave (NASDAQ:CRWV) on Thursday announced an expanded agreement with Meta Platforms Inc (NASDAQ:META, XETRA:FB2A, SIX:FB) to provide AI cloud capacity through December 2032.
The deal, valued at approximately $21 billion, continues the companies’ existing relationship and supports Meta’s development and deployment of AI technologies.
The dedicated capacity will be deployed across multiple locations and will include some of the initial deployments of the NVIDIA Vera Rubin platform.
According to CoreWeave, this distributed approach is designed to optimize performance, resilience, and scalability for Meta’s AI operations.
“This is another example that leading companies are choosing CoreWeave’s AI cloud to run their most demanding workloads,” CoreWeave’s CEO Michael Intrator said in a statement.
Shares of CoreWeave fell more than 4% to about $85 on the update, while Meta Platforms' stock was up 2% at about $625.