CoreWeave signs $14 billion AI infrastructure deal with Meta

(Reuters) -CoreWeave said it has signed a $14 billion agreement with Meta to supply computing power, the latest multi-billion dollar deal as businesses ramp up infrastructure to meet the demand for artificial intelligence applications.

 

Shares of CoreWeave surged 10% in premarket trading following the news on Tuesday.

 

As a part of the agreement, CoreWeave will provide the Facebook-parent access to Nvidia’s latest GB300 systems, according to a Bloomberg report, citing an interview with the data center operator’s CEO Michael Intrator.

 

The new deal comes a week after CoreWeave signed a third multi-billion dollar cloud expansion with OpenAI to aid the ChatGPT maker with its computational needs while executives note sky-high demand from clients.

 

Meta did not immediately respond to Reuters’ request for comment.

 

(Reporting by Zaheer Kachwala in Bengaluru; Editing by Leroy Leo)