CoreWeave (CRWV), an artificial intelligence data center provider backed by Nvidia, saw its stock price climb nearly 14% on Tuesday following the announcement of a new cloud computing agreement with Meta Platforms. The deal, valued at up to $14.2 billion, is the latest in a series of major contracts for the company, underscoring the intense demand for specialized AI infrastructure.
Key Takeaways
- CoreWeave secured a cloud computing deal with Meta Platforms valued at up to $14.2 billion, running through late 2031.
- The company's stock (CRWV) increased by nearly 14% to approximately $140 per share following the announcement.
- This agreement follows other significant deals in recent weeks, including a $6.5 billion expansion with OpenAI and a $6.3 billion order with Nvidia.
- Since its public debut in March, CoreWeave's stock value has more than tripled, highlighting strong investor interest in AI infrastructure providers.
The Meta Partnership Details
CoreWeave's agreement with Meta Platforms marks a significant milestone for the AI infrastructure company. The deal focuses on providing specialized cloud computing capacity to support Meta's expanding artificial intelligence initiatives.
Financial Terms and Timeline
According to a regulatory filing on Tuesday, the order from Meta is valued at a maximum of $14.2 billion. The contract is set to run through December 14, 2031. The filing also revealed that Meta retains an option to significantly increase its spending for additional cloud capacity through 2032, suggesting a potential for an even deeper long-term partnership.
Agreement by the Numbers
- Maximum Value: $14.2 billion
- Duration: Through December 14, 2031
- Expansion Option: Meta can increase its commitment through 2032
In a statement, CoreWeave said it believes the agreement highlights its role as a foundational provider for leading technology companies. The company stated the deal underscores its value as a "trusted backbone for the world’s leading innovators and most ambitious projects."
Impact on CoreWeave's Market Position
The announcement had an immediate and positive effect on CoreWeave's stock. Shares (CRWV) surged nearly 14% in Tuesday trading, reaching approximately $140. This latest rally contributes to a significant upward trend for the company since it went public.
CoreWeave's IPO and Stock Performance
CoreWeave held its initial public offering (IPO) in March 2025. Since then, its share price has more than tripled. However, the stock remains below its peak levels from June 2025. The previous decline was attributed to a quarterly earnings report last month that showed a wider-than-expected loss, which tempered some investor enthusiasm.
This deal with a tech giant like Meta helps solidify CoreWeave's position in the competitive AI infrastructure market. It provides a long-term, stable revenue stream and serves as a major endorsement of its specialized cloud services, which are built around high-performance computing using GPUs from its key backer, Nvidia.
A Pattern of High-Value AI Deals
The Meta contract is not an isolated event but part of a consistent pattern of securing large-scale agreements to power AI development. The demand for massive computing power needed for training and running advanced AI models has positioned companies like CoreWeave as critical suppliers in the tech ecosystem.
Recent Agreements with OpenAI and Nvidia
Less than a week before the Meta news, CoreWeave announced an expanded deal with ChatGPT-creator OpenAI valued at as much as $6.5 billion. This agreement is intended to provide the necessary infrastructure for training OpenAI's next-generation models.
The OpenAI partnership has grown substantially this year. The latest $6.5 billion expansion builds upon an initial $11.9 billion pact signed in March and a subsequent $4 billion expansion in May.
Earlier in September, CoreWeave also disclosed a $6.3 billion order directly with Nvidia. This deal secures access to the advanced chips that are essential for its data centers, ensuring it can meet the high-demand computing needs of its clients.
CoreWeave's Recent Major Contracts
- Meta Platforms: Up to $14.2 billion
- OpenAI: $6.5 billion (latest expansion)
- Nvidia: $6.3 billion
Investor Outlook and the AI Infrastructure Boom
For investors, CoreWeave represents a key player in the rapidly growing AI infrastructure sector. The company is part of a new wave of publicly traded firms that offer a way to invest in the AI boom beyond just the chipmakers like Nvidia or the large language model developers themselves.
The series of multi-billion-dollar contracts from industry leaders like Meta and OpenAI demonstrates the immense capital being deployed to build out the foundational layer of the AI economy. These long-term agreements provide revenue visibility and reduce risk for investors, though the company's recent wider-than-expected loss shows that profitability remains a key metric to watch.
As AI models become more complex, the demand for specialized, high-performance cloud computing is expected to continue growing. CoreWeave's strategic relationships with both chip supplier Nvidia and major AI labs position it to be a primary beneficiary of this sustained trend. The market will be closely monitoring its ability to execute on these large contracts and manage its growth effectively in the coming quarters.
