CoreWeave announced a multibillion-dollar agreement with Meta, expanding their partnership to provide the computing power Meta needs to develop and run Artificial Intelligence models. The company framed the deal as preparation for a new wave of larger, more complex innovations in Artificial Intelligence, saying it is building capacity now to unlock the technology’s full promise. The agreement follows days after CoreWeave disclosed an expanded arrangement with OpenAI.
According to a Bloomberg report cited by CoreWeave, the Meta contract runs through December 2031 and includes an option to extend into 2032 with additional capacity. The focus of the engagement is compute infrastructure to support both training and inference for Artificial Intelligence models, underscoring Meta’s ongoing investment in scaled infrastructure. The long-term nature of the deal signals continued demand for specialized cloud capacity as model development accelerates.
CoreWeave said the Meta win supports a strategic push to diversify revenue. As of the quarter ended in June, 71 percent of CoreWeave’s revenue came from its largest customer, Microsoft, according to the report. Chief executive Michael Intrator told Bloomberg that the company faced investor concerns about customer concentration following its March initial public offering, and characterized the Meta agreement as a step toward a more balanced customer mix.
The company also recently deepened its relationship with OpenAI, after an earlier partnership in which CoreWeave agreed to power training for advanced Artificial Intelligence models. Intrator said at the time that expanding the collaboration affirms the trust world-leading innovators place in CoreWeave’s ability to support demanding inference and training workloads at speed. More broadly, PYMNTS has reported that CoreWeave, Meta, Google and Blackstone are among the firms planning to invest heavily in new data centers to meet growing compute needs, reflecting an industry-wide buildout as the race for Artificial Intelligence capacity intensifies.
