CoreWeave said it has signed a $14 billion agreement with Meta to supply computing power, the latest multi-billion dollar deal as businesses ramp up infrastructure to meet the demand for artificial intelligence applications.
Shares of CoreWeave surged 10 per cent in premarket trading following the news on Tuesday.
As a part of the agreement, CoreWeave will provide the Facebook-parent access to Nvidia’s latest GB300 systems, according to a Bloomberg report, citing an interview with the data center operator’s CEO Michael Intrator.
The new deal comes a week after CoreWeave signed a third multi-billion dollar cloud expansion with OpenAI to aid the ChatGPT maker with its computational needs while executives note sky-high demand from clients.
Meta did not immediately respond to Reuters’ request for comment.
