Artificial intelligence hyperscaler CoreWeave announced a multibillion-dollar agreement with Meta days after reporting a deal with OpenAI.By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions .Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.“Future AI innovations will ...

Core Insights - CoreWeave, Inc. (Nasdaq: CRWV) is trending due to a significant $14.2 billion deal with Meta, resulting in a stock price increase of 13.15% to $138.63 [3][4] - The company, backed by Nvidia, will provide Meta with access to Nvidia's GB300 server racks, which include 72 Blackwell AI GPUs [4] - CoreWeave has also expanded its agreement with OpenAI, bringing the total contract value with OpenAI to approximately $22.4 billion, including previous agreements [5] Financial Performance - CoreWeave's stock is currently trading at $138.63, reflecting a gain of $16.11 on a trading volume exceeding 46 million shares [3] - The recent deal with Meta is a major contributor to the stock's upward movement, highlighting investor confidence in the company's growth potential [3] Strategic Partnerships - The partnership with Meta is a key development, as it positions CoreWeave as a critical player in the AI infrastructure space [4] - The expanded agreement with OpenAI reinforces CoreWeave's role as a cloud platform for advanced AI workloads, indicating strong demand for its services [4][5]

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Group 1 - CoreWeave has entered a multi-year commercial agreement with Meta to provide AI compute services, with Meta agreeing to pay up to $14.2 billion through December 2031 [1][2] - CoreWeave is pursuing an all-stock acquisition of Core Scientific, which was announced on July 7, leading to a significant drop in Core Scientific's share price from over $18 to under $13 [2] - The acquisition is subject to stockholder approval, with a special meeting scheduled for October 30 to vote on the merger [3] Group 2 - A major shareholder, Two Seas Capital, which owns 6.2% of Core Scientific, is urging investors to vote against the merger, claiming the board did not conduct a thorough market check and that the exchange terms undervalue Core Scientific [4] - Following the merger announcement, Core Scientific's stock experienced an 18% decline, marking one of the worst one-day price drops for an M&A target this century [5] - The decision for Core Scientific shareholders now revolves around whether to accept the merger and align with CoreWeave's AI customer base or to remain independent amid increasing demand for high-density compute capacity [5]

Key Points CoreWeave equips its data centers with graphics processing units and rents time on them out to companies looking to run artificial intelligence applications. On Tuesday morning, CoreWeave announced a $14.2 billion deal to provide cloud computing capacity to Meta Platforms. As long as companies keep spending on AI infrastructure, CoreWeave should benefit. 10 stocks we like better than CoreWeave › Shares of cloud infrastructure player CoreWeave (NASDAQ: CRWV) were trading 15% higher as o ...

Core Insights - CoreWeave's stock surged over 14% following a $14.2 billion deal with Meta, which will provide access to Nvidia's GB300 server racks containing 72 Blackwell AI GPUs [1] - Meta is significantly increasing its investment in AI infrastructure, raising its 2025 capital expenditure guidance to between $66 billion and $72 billion [2] - CoreWeave recently secured a $6.5 billion deal with OpenAI, aiming to diversify its customer base beyond Microsoft, which previously accounted for about 70% of its revenue [3] Industry Context - Analysts view the CoreWeave-Meta partnership as a positive development, indicating strong demand for high-end AI chips [4] - The AI sector is experiencing a surge in capital expenditures, with Citi analysts predicting a total of $2.8 trillion from 2025 to 2029 [4] - CoreWeave has emerged as a key player in the AI infrastructure space, providing data center services to major tech firms [5] Company Challenges - CoreWeave's IPO in March faced challenges, with concerns over high-interest debt and a concentrated customer base that includes competitors [6] - There are fears that as major tech companies complete their own data centers, they may reduce reliance on CoreWeave's services [6]

Core Insights - CoreWeave's stock surged nearly 12% following a $14.2 billion long-term cloud deal with Meta, marking a significant partnership in the AI infrastructure space [1] - The deal involves CoreWeave providing Meta access to Nvidia's GB300 server racks, each equipped with 72 Blackwell AI GPUs, highlighting the scale of the collaboration [1] - CoreWeave's CEO indicated that Meta's return for more services reflects satisfaction with previous infrastructure contracts [2] Company Developments - Meta is heavily investing in AI infrastructure, including a 4 million-square-foot data center in Louisiana, and has raised its 2025 capital expenditure guidance to between $66 billion and $72 billion [2] - CoreWeave recently secured a $6.5 billion deal with OpenAI, aiming to diversify its customer base beyond Microsoft, which previously accounted for about 70% of its revenue [3] Market Reactions - Analysts have mixed views on the deal; some see it as a positive surprise and indicative of limitless demand for high-end AI chips, while others question the rationale behind Meta renting data center capacity instead of purchasing Nvidia's chips directly [4][5] - The partnership aligns with a broader trend of Big Tech companies increasing compute capacity for AI, with significant investments noted, including Nvidia's $100 billion investment in OpenAI and OpenAI's $300 billion contract with Oracle [6]

BREAKING: Tesla's Strong Showing In China CoreWeave (CRWV) stock jumped Tuesday amid an expanded artificial intelligence cloud computing agreement with Meta Platforms (META). CoreWeave's stellar customer list also includes Microsoft (MSFT), OpenAI and Nvidia (NVDA). The Meta deal has an estimated value of $14.2 billion. The contract will run through 2031, according to a regulatory filing. On the stock market today, CoreWeave stock popped more than 13% to 138.88. With Tuesday's gain, CoreWeave stock has adva ...

CoreWeave Inc. (NASDAQ:CRWV) surged after it disclosed in a regulatory filing that it has entered into a multibillion-dollar agreement with Meta Platforms Inc. (NASDAQ:META) for cloud computing capacity valued at up to $14.2 billion. According to an 8-K filing with the SEC, the agreement was executed on September 25 under the companies' existing Master Services Agreement, effective as of December 2023. Meta has committed to payments of approximately $14.2 billion through December 14, 2031, with the opti ...

CoreWeave Inc. said on Tuesday it has struck an agreement to supply Meta Platforms Inc. with up to $14.2 billion of artificial intelligence cloud infrastructure, underscoring the steep costs associate... ...