No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - Meta Platforms has struck a $21bn deal with CoreWeave, it was announced on Thursday, as the owner of Facebook and WhatsApp continues to expand its artificial intelligence infrastructure.
Under the terms of the deal, CoreWeave will provide AI cloud capacity for the tech giant until December 2032, starting from 2027. It builds on an earlier $14bn agreement between the two US firms, signed in September, which lasts until 2031.
CoreWeave said that under the latest deal, the dedicated capacity would be deployed across multiple locations and include some initial deployments of the Nvidia Vera Rubin platform.
Co-founder and chief executive Michael Intrator continued: "This is another example that leading companies are choosing CoreWeave's AI cloud to run their most demanding workloads."
As at 1400 BST, CoreWeave had put on 1% in pre-market trading, while Meta was up 2%.
CoreWeave, which was founded in 2017, debuted on Nasdaq in March 2025. It currently has 33 data centres across North America and Europe, and includes Microsoft, Google and OpenAI among its clients. It first partnered with Meta in 2023.
Tech companies are currently scrambling to boost their exposure to AI. In January, Meta - which also owns Instagram - announced that AI-related capital expenditure would come in between $115bn and $135bn this year, nearly twice what it spent the year before.
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.