Meta Platforms and CoreWeave have solidified their AI cloud partnership with a new $21 billion agreement. This deal, extending through December 2032, significantly boosts Meta's computing capacity to support its burgeoning artificial intelligence workloads. It builds upon a prior $14 billion agreement.
Meta is aggressively expanding its high-performance compute infrastructure to develop and deploy advanced large language models. CoreWeave's facilities are equipped with Nvidia's specialized graphics processing units, critical for hyperscalers like Meta in the current demand for AI compute.
The Facebook-parent is projecting substantial investment, up to $135 billion, for its AI buildout this year. Meanwhile, CoreWeave is also exploring capital markets, planning to issue $1.25 billion in bonds and $3 billion in convertible bonds.