CoreWeave Inc. and Meta Platforms Inc. announced a landmark $21 billion expanded agreement on Thursday, April 9, under which CoreWeave will supply dedicated AI cloud computing capacity to Meta through December 2032. The deal, disclosed in an 8-K filing with the Securities and Exchange Commission, brings total Meta commitments to CoreWeave to $35 billion, making the social media giant one of CoreWeave's largest and most strategically important customers.
The new agreement supersedes and expands upon an earlier partnership originally valued at approximately $14.2 billion. Under the terms of the expanded deal, CoreWeave will deploy infrastructure across multiple data center locations and will include some of the earliest commercial deployments of NVIDIA's Vera Rubin platform — the next-generation AI supercomputing architecture designed to accelerate the transition from generative AI to fully agentic AI systems capable of autonomous, multi-step task execution.
"This is another example that leading companies are choosing CoreWeave's AI cloud to run their most demanding workloads," said Michael Intrator, Co-founder, CEO, and Chairman of CoreWeave. The company noted that a key focus of the agreement is inference — the process of running trained AI models continuously at massive scale — reflecting the broader industry shift from the training-heavy investments of 2023 and 2024 toward deploying AI agents to billions of end users.
Shares of CoreWeave rose approximately 3% in pre-market trading following the announcement. Meta was one of only two members of the Magnificent Seven to trade higher on Thursday, alongside Amazon, with Meta shares climbing more than 9% in midday trading as investors also reacted positively to the company's unveiling of its new Muse Spark AI model. Meta CEO Mark Zuckerberg said the new model excels in visual understanding, health, social content, shopping, and gaming.
The deal carries significant broader market implications. NVIDIA, whose Vera Rubin chips are central to the infrastructure agreement, stands to benefit directly as CoreWeave deploys early Rubin-based clusters. Analysts have projected NVIDIA's fiscal year 2027 revenue could approach $180 billion, a substantial leap from the $60.9 billion reported in fiscal year 2024, driven in large part by deals of this scale. The semiconductor sector is also receiving a broader tailwind from a Gartner report released Wednesday estimating the world will spend $1.3 trillion on semiconductors in 2026, marking a 64% year-over-year increase and the largest growth in two decades.
The CoreWeave-Meta agreement is part of a sweeping wave of AI infrastructure commitments that are reshaping the technology sector. Power availability has emerged as the primary bottleneck for AI data center expansion, and CoreWeave's ability to secure nearly one gigawatt of power capacity through long-term utility agreements is increasingly viewed as a competitive moat in its own right. For investors, the deal reinforces the thesis that AI capital expenditure is not slowing — it is accelerating, and migrating toward specialized, high-performance infrastructure providers.