CoreWeave lands $14 billion AI deal with Meta, stock climbs over 15% on Wall Street

CoreWeave Inc. on September 30 signed an agreement to provide Meta Platforms Inc. with up to $14.2 billion in computing power, underscoring the significant expenses involved in creating and operating advanced AI models.Following the announcement, CoreWeave’s shares jumped over 15% on Wall Street.This new deal follows closely on the heels of CoreWeave’s third multi-billion dollar cloud expansion deal with OpenAI, announced just a week earlier, aimed at supporting the ChatGPT developer’s computational require ...