CoreWeave (NASDAQ:CRWV) shares climbed about 8% on Thursday after the company revealed a $21 billion expanded agreement with Meta Platforms (NASDAQ:META) to supply AI cloud capacity through December 2032.
The multi-year arrangement builds on the companies’ existing partnership and is intended to support Meta’s efforts to develop and scale its artificial intelligence infrastructure. The agreement represents a major commitment to CoreWeave’s AI cloud services for handling large-scale inference workloads.
Under the deal, dedicated computing capacity will be rolled out across several locations and will include some of the first deployments of the NVIDIA Vera Rubin platform. The distributed infrastructure is designed to improve performance, resilience, and scalability for Meta’s AI systems.
“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.
The agreement highlights the accelerating demand for high-performance computing infrastructure capable of supporting increasingly complex AI applications.