Meta Commits $21 Billion in Expanded AI Cloud Deal With CoreWeave — Update

By Connor Hart

CoreWeave expanded its long-term agreement with Meta Platforms, providing the company with artificial-intelligence cloud capacity through December 2032 for about $21 billion.

The cloud services provider on Thursday said the deal will provide increased support for the development and deployment of Meta's AI initiatives. Dedicated capacity will be deployed across multiple locations under the expanded partnership, including some of the initial deployments of Nvidia's Vera Rubin platform.

CoreWeave--which first signed a deal with Meta to provide AI cloud infrastructure last fall for about $14.2 billion--said the deal signals accelerating demand for infrastructure capable of supporting complex and large-scale AI workloads.

CoreWeave shares rose 4.7%, to $93.10, in premarket trading.

"This is another example that leading companies are choosing CoreWeave's AI cloud to run their most demanding workloads," Chief Executive Michael Intrator said.

The additional commitment from Meta helps advance CoreWeave's position within the tech industry, allowing the company to fund the massive construction and equipment costs required to support large-scale AI projects.

Earlier this year, Nvidia said it was pouring an additional $2 billion into CoreWeave in a vote of confidence in the artificial-intelligence data-center company using Nvidia's chips.

And in September, CoreWeave said it was expanding its previous agreement with OpenAI to supply data-center capacity by up to $6.5 billion, bringing the total value of the contract to $22.4 billion.

Separately, CoreWeave said Thursday it intends to offer $1.25 billion worth of senior notes, due in 2031, in a private offering. Proceeds from the offering will be used primarily for general corporate purposes, including paying down debt and covering fees tied to the offering.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

April 09, 2026 08:10 ET (12:10 GMT)