Meta Expands CoreWeave AI Cloud Deal to $21 Billion

This substantial expansion builds upon an existing relationship, increasing support for Meta's aggressive development and deployment of AI technologies. The dedicated cloud capacity will be deployed across multiple locations, crucially including some of the initial deployments of Nvidia's advanced Vera Rubin platform, as stated by the companies.

This new agreement substantially increases the commitment from their previous AI cloud infrastructure deal last fall, which was valued at up to $14.2 billion. Following the announcement, CoreWeave shares rose 7.8% to $95.84 in premarket trading, reflecting investor optimism regarding the expanded partnership.

Dow Jones reported the details of this deal, highlighting Meta's continued, large-scale investment in robust AI infrastructure to power its future initiatives.