Under the agreement, Meta will gain access to Nvidia’s latest GB300 systems, which CoreWeave operates
In sum – what to know:
$14.2B compute deal – CoreWeave will supply Meta with Nvidia GB300-powered capacity through 2031, one of the largest commitments for AI infrastructure to date.
Revenue diversification – Agreement reduces reliance on Microsoft, which made up 71% of CoreWeave’s revenue last quarter, following another multibillion-dollar contract with OpenAI.
CoreWeave has agreed to provide Meta Platforms with up to $14.2 billion in computing capacity through 2031, marking one of the largest AI infrastructure deals to date.
Under the agreement, Meta will gain access to Nvidia’s latest GB300 systems, which CoreWeave operates. The deal, disclosed in a regulatory filing, includes an option to extend through 2032 with additional capacity.
Shares in CoreWeave rose nearly 16% on the news, while Meta’s stock dipped around 2%. The move diversifies the neocloud provider’s revenue base, which has been heavily reliant on Microsoft — accounting for 71% of its Q2 revenue.
CoreWeave, a so-called “neocloud” player, specializes in renting access to AI chips from Nvidia. Competitors in this emerging market include Nebius Group and Nscale Global Holdings.
The firm has recently expanded its collaboration with OpenAI through a new agreement valued at up to $6.5 billion, extending its role as a supplier of compute infrastructure for advanced AI systems.
The company noted that the deal raises the total contract value between the two companies to about $22.4 billion, making it one of the largest infrastructure partnerships in the generative AI sector.
The agreement builds on two prior deals announced earlier this year. In March, CoreWeave had announced a contract with OpenAI valued at up to $11.9 billion, followed by an additional $4 billion deal in May.
Last month, the company announced a £1.5 billion ($2 billion) phase of its investment in AI data center capacity and operations in the U.K., bringing the total investment in the country to £2.5 billion. CoreWeave noted its investment will help accelerate the U.K. Government’s Compute Roadmap and provide AI labs, enterprises, the public sector, research institutions, and startups with advanced, purpose-built AI infrastructure.
The firm has also recently launched CoreWeave Ventures, a new unit designed to invest in companies developing infrastructure, tools, and technologies for AI and advanced computing.
The initiative comes amid growing demand for specialized platforms and applications to support AI workloads across industries. The company said its venture arm will provide both financial resources and technical expertise, along with access to its compute infrastructure.
According to the company, CoreWeave Ventures will offer multiple forms of capital investment, accelerated use of its AI-optimized cloud platform, access to production-grade test environments, and guidance informed by its enterprise partnerships.
