Meta Platforms announced a substantial $21 billion investment in CoreWeave, a key provider of cloud artificial intelligence infrastructure. This move significantly expands Meta's existing partnership with CoreWeave, aiming to fuel its aggressive AI development goals.
The expanded deal, spanning 2027 to 2032, provides Meta with critical access to CoreWeave's extensive network of data centers, which are heavily equipped with Nvidia's advanced graphics processing units essential for running AI models.
This investment comes as Meta increases its overall AI infrastructure spending, projecting between $115 billion and $135 billion for the current year. The social media giant is pursuing multiple AI initiatives, from enhancing its advertising business and creator tools to competing as a frontier model developer with rivals like OpenAI and Google. Meta recently launched its new multimodal reasoning model, Muse Spark.
The intensified collaboration with CoreWeave, a partner since 2023, underscores Meta's strategy to diversify its AI infrastructure resources. CoreWeave, in turn, benefits by reducing its reliance on Microsoft, which has historically been its largest customer. CoreWeave is also raising an additional $3 billion in debt to support its own data center expansion.