The AI race continues, CoreWeave securing massive $21B AI deal with Meta

CoreWeave (NASDAQ: CRWV) shares rose 3% Thursday after the company announced a $21 billion expanded agreement with Meta Platforms to provide AI cloud capacity through December 2032.

The long-term deal expands the existing relationship between the two companies and will support Meta’s development and deployment of AI infrastructure. The agreement represents a significant commitment to CoreWeave’s AI cloud platform for scaling inference workloads.

The dedicated capacity will be deployed across multiple locations and will include some of the initial deployments of the NVIDIA Vera Rubin platform. The 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,” said Michael Intrator, Co-founder, CEO, Chairman of CoreWeave.