CoreWeave lands Anthropic deal to power Claude AI as nine of ten top model providers join platform

Anthropic Agrees to Rent CoreWeave AI Capacity to Power Claude

Anthropic PBC agreed to rent data center capacity from CoreWeave Inc. as part of efforts to handle increasing demand for its artificial intelligence services. The multiyear deal will help Anthropic build and deploy its Claude AI models, CoreWeave said Friday in a statement. The capacity will include a variety of Nvidia Corp. chip architectures at data centers in the US, CoreWeave Chief Executive Officer Michael Intrator said in an interview. The companies declined to disclose financial terms of the agreement. Anthropic, along with OpenAI, has been at the forefront of the explosion in AI services, and at times has struggled to keep its products online in the face of what it called "unprecedented demand." The company is working to build more computing capacity, including committing $50 billion toward new AI data centers in the US. San Francisco-based Anthropic is among the most-valuable closely held companies, at $380 billion, including $30 billion it raised recently. Earlier this week, Anthropic announced a partnership with Broadcom Inc. and Alphabet Inc.'s Google to gain 3.5 gigawatts of energy. A gigawatt is enough electricity for about 750,000 US households at any one time. CoreWeave is part of a group dubbed "neoclouds," which specialize in renting out high-performance cloud computing for AI workloads. Customers such as Microsoft Corp. have turned to neoclouds to quickly boost their ability to build and offer AI products. CoreWeave has 43 active data centers and has contracted out over 3 gigawatts of power for server farms, the company said in February. On Thursday, CoreWeave announced a $21 billion commitment from Meta Platforms Inc. to purchase its computing power. With the agreement, CoreWeave now counts the four largest AI model makers -- Anthropic, OpenAI, Google and Meta -- as customers, Intrator said.

CoreWeave strikes AI cloud deal with Anthropic, shares rise

April 10 (Reuters) - Cloud infrastructure firm CoreWeave (CRWV.O), opens new tab said on Friday it has struck a deal with Anthropic to supply the AI startup with cloud computing capacity, sending its shares up more than 5% in premarket trading. The multi-year agreement, whose financial terms were not disclosed, will bring computing capacity for Anthropic online later this year and help it run workloads for its Claude family of AI models. Reporting by Deborah Sophia in Bengaluru; Editing by Diti Pujara Our Standards: The Thomson Reuters Trust Principles., opens new tab

CoreWeave adds ninth top AI model provider with deal to power Anthropic's Claude

Anthropic loses appeals court bid to temporarily block Pentagon blacklisting CoreWeave declined to disclose the value of the Anthropic deal. The cloud provider told CNBC that of the top ten foundational AI models, Elon Musk's xAI is the one company they do not yet work with. According to the announcement, the Anthropic deal will focus initially on a "phased infrastructure roll-out," with the potential to expand. CoreWeave operates data centers with hundreds of thousands of the Nvidia graphics processing units that power AI models. While hyperscalers are building out their own data centers, major companies including Microsoft, OpenAI and Google also use infrastructure from CoreWeave to meet the soaring demand. Anthropic's Claude and its AI-powered coding assistant Claude Code have exploded in popularity this year. Anthropic said Monday that its annual run rate topped $30 billion, up from $9 billion at the end of 2025.

Coreweave Expands Meta Deal for AI Computing to $21 Billion

CoreWeave Inc. has expanded its deal to supply artificial intelligence computing power to Meta Platforms Inc. to $21 billion, building on a previous $14.2 billion agreement the companies struck in September. Under the new terms, CoreWeave will supply AI cloud capacity through December 2032, according to a company statementBloomberg Terminal Thursday. The two companies had previously reached a deal that ran through December 2031 with an option to extend to 2032 with additional capacity. The additional computing will come from multiple data centers powered in part by the Rubin systems of AI chips giant Nvidia Corp., CoreWeave said. CoreWeave is among an emerging group of "neoclouds," businesses that rent out access to leading AI chips. Its competitors include Nebius Group NV and Nscale. CoreWeave has been one of the chief beneficiaries of a race among major technology companies to build the most advanced AI models that has sent demand for computing demand soaring. Meta has emerged as one of the top spenders on AI infrastructure. Chief Executive Officer Mark Zuckerberg has plans to spend hundreds of billions of dollars over the next few years on the energy, computing power and talent needed to build, train and run AI models.

CoreWeave signs multi-year Anthropic deal as nine of ten top AI model providers join its platform

In short: CoreWeave announced a multi-year agreement with Anthropic on April 10, 2026, giving the Claude maker access to Nvidia GPU capacity across US data centres for production-scale AI workloads. Financial terms were not disclosed. The deal arrives one day after CoreWeave announced a $21 billion expansion of its Meta partnership, and adds Anthropic to a customer roster that now covers nine of the ten leading AI model providers. CoreWeave generated $5.13 billion in revenue in 2025 and is guiding for more than $12 billion in 2026, backed by a contracted backlog exceeding $66 billion. CoreWeave was founded in 2017 as Atlantic Crypto, an Ethereum mining operation that bought Nvidia graphics processing units in bulk to mine cryptocurrency and rent spare GPU capacity to other miners. When crypto margins compressed in 2019, the company renamed itself CoreWeave and pivoted to GPU-on-demand cloud services for general computing purposes. The timing proved transformative: the AI model training boom that began in earnest in 2023 turned CoreWeave's stockpile of Nvidia hardware into one of the most strategically valuable infrastructure positions in technology. The company went public on Nasdaq under the ticker CRWV on March 28, 2025, at $40 per share, raising $1.5 billion and valuing it at approximately $23 billion. CoreWeave operates 32 data centres with more than 250,000 GPUs and 1.3 gigawatts of contracted power capacity. Its 2025 revenue of $5.13 billion represented a 168 per cent increase year-on-year, and management has guided for more than $12 billion in 2026 revenue against a contracted backlog that now exceeds $66 billion. The company's rapid growth has come with a significant concentration risk: Microsoft accounted for approximately 67 per cent of CoreWeave's 2025 revenue, a dependence that investors and analysts flagged in the run-up to the IPO. Microsoft's push to develop its own AI models adds a further strategic variable, raising the question of how much of Microsoft's compute demand will eventually shift toward in-house infrastructure rather than third-party GPU cloud rental. The Anthropic deal, arriving the day after a $21 billion Meta expansion, represents CoreWeave's most visible effort to build a diversified customer base that reduces its dependence on any single hyperscaler. Anthropic's compute strategy has grown more complex alongside its revenue. The company's annualised revenue run rate surpassed $30 billion in early April 2026, more than three times the $9 billion figure it recorded at the end of 2025. That rate of acceleration, driven by enterprise Claude adoption and the breakout growth of Claude Code, has required Anthropic to expand its infrastructure commitments across multiple chip architectures simultaneously. Its primary training workloads run on Amazon Web Services Trainium hardware via Project Rainier, a large-scale cluster spanning hundreds of thousands of AI chips across multiple US data centres. Three days before the CoreWeave announcement, Anthropic's deal with Google and Broadcom for multi-gigawatt TPU capacity secured access to approximately 3.5 gigawatts of next-generation tensor processing unit compute expected to come online in 2027. The CoreWeave deal fills a third lane: Nvidia GPU capacity for production inference workloads, running at the scale and latency performance that enterprise Claude deployments require. Anthropic's $100 million commitment to its Claude partner network earlier this year signalled the company's intent to expand the ecosystem of developers and enterprises building on Claude, and that ecosystem expansion is now directly driving the compute procurement decisions behind deals like this one. CoreWeave co-founder and CEO Michael Intrator framed the deal in terms that go beyond raw infrastructure capacity. "AI is no longer just about infrastructure, it's about the platforms that turn models into real-world impact," he said. "We're excited to work with Anthropic at the centre of where models are put to work and performance in production shows up. It's exactly the kind of real-world deployment of AI that CoreWeave was built for." Anthropic will initially deploy compute under a phased infrastructure rollout, with the option to expand the arrangement over time. The specific Nvidia chip architectures involved have not been publicly disclosed, though CoreWeave's estate spans current and next-generation Nvidia GPU generations. Nvidia's Vera Rubin GPUs, unveiled at GTC 2026, represent the next major architecture in CoreWeave's deployment roadmap, with volume shipments expected in the second half of 2026. The Anthropic agreement means that nine of the ten leading AI model providers now use CoreWeave's platform, a market penetration figure the company cited in its press release. The customer roster built alongside Microsoft includes Meta, OpenAI, Mistral, Cohere, IBM, and Nvidia itself, as well as a sub-leasing arrangement through which Microsoft supplies some CoreWeave capacity to third-party clients. The Meta relationship deepened significantly on April 9, 2026, one day before the Anthropic announcement: Meta committed an additional $21 billion to CoreWeave for dedicated AI cloud capacity running from 2027 through December 2032, bringing the total value of the two companies' infrastructure relationship to approximately $35 billion. CoreWeave also expanded its agreement with OpenAI by up to $6.5 billion earlier in 2026. The two announcements in 48 hours, covering Meta and Anthropic, illustrate how CoreWeave is converting its infrastructure position into long-duration contracted revenue rather than spot-market GPU rentals. CoreWeave raised $8.5 billion in a GPU-backed debt facility in March 2026, with the Meta relationship used as collateral. The Anthropic deal, while undisclosed in value, will contribute to a backlog that analysts are watching as the primary indicator of the company's long-term revenue predictability. The same day CoreWeave announced the Anthropic agreement, reports emerged that Anthropic is exploring the design of its own custom AI chips -- a move that would, if realised, eventually reduce its dependence on the Nvidia-powered infrastructure that CoreWeave provides. The irony is deliberate: Anthropic's current infrastructure commitments across AWS, Google Cloud, and now CoreWeave reflect a company that is simultaneously expanding compute dependency in the short term and exploring the routes to architectural independence in the long term. That tension is not unique to Anthropic. Meta, OpenAI, and Google have all invested heavily in custom silicon programmes while continuing to rent third-party Nvidia capacity, because the timelines for custom chip maturity and the demand curve for AI compute do not align closely enough to allow a clean transition. CoreWeave's position as the GPU landlord of choice for the AI industry is therefore both a statement about the current moment and a structural bet that Nvidia-native cloud capacity will remain competitively necessary for at least the duration of the contracts now being signed. As AI infrastructure spending accelerated through 2025, the GPU cloud market began to look less like a transitional gap-filler and more like a permanent layer of the AI stack, and CoreWeave, two deals in two days, is the clearest evidence of that shift.

CoreWeave signs $21 billion AI cloud deal with Meta

April 9 (Reuters) - CoreWeave (CRWV.O), opens new tab said on Thursday it has entered into an expanded agreement to provide Meta Platforms (META.O), opens new tab with $21 billion in ⁠cloud capacity, as the social media giant scales its infrastructure to support increasingly complex AI workloads. Shares of CoreWeave rose nearly 8% ⁠in premarket trading, while those of Meta were up 0.6%. The deal, ⁠which extends through December 2032, deepens the existing ⁠partnership between the two companies, ⁠CoreWeave said. Reporting by Jaspreet Singh in Bengaluru; Editing by Jonathan Ananda Our Standards: The Thomson Reuters Trust Principles., opens new tab

Meta commits to spending additional $21 billion with CoreWeave as AI costs keep rising

Meta has committed to spending an additional $21 billion on AI cloud infrastructure from CoreWeave, which comes on top of a prior arrangement of $14.2 billion, as the social media company continues to ramp up its investments in artificial intelligence. The new agreement, announced on Thursday, runs from 2027 to 2032. The previous deal, disclosed in September, goes through 2031. CoreWeave's data centers are filled with hundreds of thousands of Nvidia graphics processing units that can accommodate AI models, offering a key piece of infrastructure that hyperscalers need for rapidly expanding to meet what they describe as insatiable demand. While Meta and its peers are building out their own facilities, they need capacity from companies like CoreWeave, which also serves Google, Microsoft, OpenAI and others. In March, Meta said it would spend $10 billion on a Texas data center. "Sure, they can buy compute," CoreWeave CEO Mike Intrator told CNBC in an interview. "Yet, for some reason, all these people who can buy compute also feel the need to buy it from us, because of the quality of the product that we deliver." In Meta's last earnings report, the company said it plans to shell out between $115 billion and $135 billion this year in capital expenditures, above Wall Street's estimates and nearly twice the amount it spent on capex in 2025. While Meta's core advertising business has benefited from the focus on AI, the company has struggled to get traction in the world of AI models currently dominated by OpenAI, Anthropic and Google. Meta has spent lavishly to form a Superintelligence Labs group that develops advanced AI models, and on Wednesday announced its new model called Muse Spark. Meta has had partnered with CoreWeave since 2023, and Intrator said his company's infrastructure allows Meta to make better use of all the AI talent it's acquired. "They hired from across the space, people who have used infrastructure from all different folks, and they came back to us," Intrator said. A Meta spokesperson said in an emailed statement that the CoreWeave deal is "part of our portfolio-based approach to infrastructure, as we invest in capacity for our AI ambitions." The new business will help CoreWeave further diversify away from Microsoft, which represented 62% of its 2024 revenue. Now no customer will represent more than 35% of total sales, Intrator said. CoreWeave, which went public last year, held $21 billion in debt on its balance sheet at the end of 2025, and in March borrowed another $8.5 billion to add infrastructure tied to new contracts. The company's stock has gained 24% so far this year, while the S&P 500 has fallen about 1% in the same period. Meta is down about 7% after rallying on Wednesday following the new model announcement. Intrator expects CoreWeave's Meta relationship to grow further, even as the Facebook parent opens more data centers. "They're going to continue to do it themselves, but they're also going to continue to do it with us," he said. "There's just too much risk not to."

Meta commits another $21 billion to CoreWeave, bringing total AI cloud spend to $35 billion

In short: Meta has committed an additional $21 billion to CoreWeave for dedicated AI cloud capacity running from 2027 through December 2032, bringing the total value of the two companies' infrastructure relationship to approximately $35 billion. The new contract will deliver early deployments of Nvidia's Vera Rubin platform across multiple sites, and is designed specifically for inference workloads rather than training. Alongside the announcement, CoreWeave disclosed plans to raise $4.25 billion in new debt ,$3 billion in convertible notes and $1.25 billion in junk bonds, to fund continued expansion. CoreWeave shares rose around 5% on the news; Meta shares gained roughly 3%. CoreWeave was founded in 2017 in New Jersey as Atlantic Crypto, a commodity traders' side project mining Ethereum using graphics processing units. When the 2018 cryptocurrency crash made mining uneconomical and Ethereum's eventual move to proof-of-stake threatened to render GPU mining obsolete entirely, the founders, Michael Intrator, Brian Venturo, and Brannin McBee, recognised that the GPU inventory they had accumulated was also exactly what machine learning researchers needed and could not easily access through conventional cloud providers. The company was renamed CoreWeave in 2019 and pivoted to GPU cloud infrastructure. It went public on March 28, 2025, at $40 per share, valuing it at $23 billion. Its 2025 revenue reached $5.13 billion, up 168% year on year, and its contracted backlog is estimated at more than $66 billion. The first Meta agreement, worth $14.2 billion and announced in September 2025, was the deal that established CoreWeave as a serious counterpart to the hyperscale cloud providers. The April 9, 2026 expansion, an additional $21 billion, makes Meta the most significant commercial relationship in CoreWeave's history, with a combined commitment that will sustain the company's revenue base through the end of the decade. The contract is specifically structured around inference rather than training. Meta's Llama model family is open-weight and freely downloadable, which means the capital-intensive training phase is largely complete before any cloud contract is signed; the ongoing cost is serving those models to billions of users in real time. Inference at Meta's scale, hundreds of millions of daily active users across Facebook, Instagram, WhatsApp, and Meta AI, requires sustained, low-latency compute across distributed infrastructure in a way that Meta's own data centres cannot always absorb at peak capacity. CoreWeave will deploy that capacity across multiple locations and will include some of the first commercial deployments of Nvidia's Vera Rubin platform, which the chipmaker unveiled at GTC 2026 in March as the next generation of its AI infrastructure hardware. The new deal supplements rather than replaces Meta's internal build-out. Meta has guided for $115 billion to $135 billion in capital expenditure in 2026, with AI infrastructure identified as the primary driver, and the company has been explicit that it is building both owned data centres and sourcing external capacity simultaneously. The CoreWeave expansion follows a $27 billion infrastructure deal Meta signed with Nebius in March 2026, under which the Dutch neocloud operator will supply dedicated compute starting in early 2027, also featuring early Vera Rubin deployments. The two deals together illustrate that Meta is not simply procuring cloud capacity but building a diversified multi-vendor infrastructure position designed to give it flexibility and redundancy at hyperscale. For CoreWeave, the Meta expansion solves a problem that has shadowed the company since its IPO: excessive revenue concentration. Microsoft represented 62% of CoreWeave's 2024 revenue, a figure that made institutional investors uncomfortable and that the company has been working to reduce. With the new Meta commitment in place, CoreWeave CEO Michael Intrator said no single customer would represent more than 35% of total sales. That is still a significant concentration, but it is a materially different risk profile from a position where a single hyperscale customer controls the majority of your revenue. Nvidia, which made a $2 billion strategic investment in Nebius in March 2026 and has deepened its commercial relationships with every major AI cloud provider, sits at the centre of CoreWeave's business model: CoreWeave's entire infrastructure is built around Nvidia GPUs, and the Vera Rubin deployments in the Meta contract will extend that dependency into the next hardware generation. CoreWeave also recently expanded its agreement with OpenAI by up to $6.5 billion, further broadening its customer base beyond Microsoft. The company's stock reached an all-time high of $187 in mid-2025 before pulling back to around $65 in late 2025 amid broader concerns about AI investment returns; following the Meta expansion announcement it was trading in the $88 to $95 range. AI cloud infrastructure is expensive to build before contracts start generating revenue, and CoreWeave has funded its growth primarily through debt. Alongside the Meta deal announcement, the company disclosed plans to raise $4.25 billion in new financing: $3 billion in convertible senior notes due 2032, carrying a coupon of between 1.5% and 2%, with an option for investors to convert into equity; and $1.25 billion in senior unsecured notes due 2031 at approximately 10%, effectively junk-bond pricing. CoreWeave's total debt load sits at around $30 billion, roughly triple what it was a year earlier. The company's argument for the debt structure is that its contracted revenue base, more than $66 billion in backlog, provides sufficient visibility to service the obligations. Intrator has described CoreWeave as an "AI factory" whose capital costs are underwritten by long-term customer commitments before infrastructure is built. The broader AI infrastructure financing environment has been characterised by similarly large-scale debt structures: SoftBank secured a $40 billion bridge loan to fund its $30 billion follow-on OpenAI investment as part of the Stargate project, illustrating that the capital requirements of AI at scale are now large enough to require financing instruments that did not exist in this form even two years ago. The year 2025 cemented AI infrastructure as the primary competitive variable in the technology industry, and CoreWeave, a company that began as a closet of Ethereum mining rigs, has positioned itself as a load-bearing pillar of that infrastructure, one $21 billion commitment at a time.

Meta and CoreWeave AI cloud deal grows to $21 billion

Meta has become one of the largest spenders on AI infrastructure. The company budgeted between $115 billion and $135 billion in capital expenditures for 2026, with infrastructure costs -- including third-party cloud spending, depreciation, and data center operating expenses -- identified as the primary driver of expense growth. Meta CEO Mark Zuckerberg has framed compute capacity and power as the central bottlenecks to the company's AI ambitions, Meta has leaned on third-party cloud providers to bridge gaps while it scales its own footprint.

Meta, CoreWeave Shares Rise After Expanding $21 Billion AI Cloud Deal - Decrypt

The infrastructure rollout will include early deployments of Nvidia's Vera Rubin platform. Meta and CoreWeave have expanded a long-term artificial intelligence infrastructure agreement worth about $21 billion, extending their partnership through December 2032. Both companies have seen their shares rise Thursday following the announcement. CoreWeave announced the expanded deal Thursday, describing it as an extension of the companies' existing relationship and an increase in infrastructure supporting Meta's AI operations. "This is another example that leading companies are choosing CoreWeave's AI cloud to run their most demanding workloads," CoreWeave co-founder, CEO, and Chairman Michael Intrator said in a statement. The agreement gives Meta access to AI cloud capacity from CoreWeave to support the development and deployment of its AI systems, including inference workloads that run trained models at scale. The infrastructure will be deployed across multiple locations and will include some of the first deployments of Nvidia's Vera Rubin platform. CoreWeave said the distributed deployment is intended to optimize performance, resilience, and scalability for Meta's AI systems, and reflects rising demand for infrastructure capable of supporting large-scale AI workloads. Meta and CoreWeave previously struck a $14 billion AI infrastructure deal in 2025, under which the cloud provider agreed to supply computing power to Meta through 2031. The news comes as Meta accelerates its push into advanced AI systems. On Wednesday, the company introduced Muse Spark, a natively multimodal model capable of processing text, images, and voice and designed to tackle complex reasoning tasks using multiple AI agents. Meta has also outlined a new Advanced AI Scaling Framework that expands how it evaluates risks and tests its most capable models before deployment. "As we build more capable and more personalized AI, reliability, security, and user protections are more important than ever," Meta said in a statement. "Advanced models require an advanced approach to safety -- one that scales with the technology." Shares of Meta and CoreWeave rose after the companies announced their expanded AI infrastructure deal. Currently, Meta (META) is trading above $630 per share, up about 3% on the day, while CoreWeave (CRWV) has jumped 5.5% to a recent price of $93.70.

CoreWeave stock keeps going up: 3 reasons why the AI cloud-computing company is on fire this week

CoreWeave is having a very eventful week, and its stock price reflects it. Shares of the AI cloud-computing firm (Nasdaq: CRWV) are up more than 37% in five days following deals with Meta Platforms and Anthropic. On Thursday, April 9, CoreWeave announced a six-year agreement with social media giant Meta, parent company of Facebook and Instagram. CoreWeave will supply AI cloud capacity to Meta through December 2032. "The dedicated capacity will be deployed across multiple locations and will include some of the initial deployments of the Nvidia Vera Rubin platform," CoreWeave stated in a release. "This distributed approach is designed to optimize performance, resilience, and scalability for Meta's AI operations."

CoreWeave inks multiyear cloud deal with Anthropic - SiliconANGLE

CoreWeave Inc. today announced that it has won a multiyear contract to supply Anthropic PBC with cloud infrastructure. The company's shares closed 10.8% higher on the news. The data center capacity commissioned by Anthropic developer will start coming online later this year. CoreWeave stated that the infrastructure will "support the development and deployment of Anthropic's Claude." That suggests Anthropic plans to run both model training and inference workloads on the platform. CoreWeave didn't specify the dollar value of the deal. However, chief executive Michael Intrator did tell Bloomberg that Anthropic will use a "variety" of Nvidia Corp. chips deployed in U.S. data centers. The most advanced Nvidia graphics card that the company currently offers is the Blackwell Ultra. It comprises two 4-nanometer dies linked together by a custom interconnect called the NV-HBI. The technology streams data between the modules at a rate of 10 terabits per second. The Blackwell Ultra includes not only matrix multiplication units, the core building blocks of AI accelerators, but also more specialized circuits. There's so-called warp-synchronous memory that speeds up the task of sharing data between an AI model's components. Additionally, cores called Special Function Units speed up perform mathematical operations that involve transcendental numbers such as pi. The disclosure of the Anthropic partnership comes a day after CoreWeave expanded an existing infrastructure deal with Meta Platforms Inc. The revised contract covers "initial deployments" of Vera Rubin, the successor to the Blackwell Ultra. If those deployments come online in the near future, it's possible Anthropic will also use the new chip to power its CoreWeave-hosted workloads. The cloud provider operates more than 43 data centers with about 850 megawatts of capacity as of February. CoreWeave provides infrastructure to its largest customers through so-called Dedicated Access AZs. Those are clusters with a single-tenant design, which means that they're used by a single organization. Cloud providers usually run workloads on infrastructure that is shared by multiple customers. CoreWeave has incorporated multiple custom elements into its data centers. According to the company, its facilities can predict spikes in workloads' hardware usage and optimize their cooling equipment accordingly. CoreWeave also reconfigures the associated power distribution hardware. The company sells its AI infrastructure alongside other offerings. CoreWeave provides instances powered solely by central processing units that can be used to run general-purpose workloads. Additionally, it offers services that ease tasks such as fixing AI training errors. According to CoreWeave, its cloud platform is used by 9 out of the world's 10 top AI model providers. That group includes not only Anthropic but also rival OpenAI Group PBC. Last year, the latter company agreed to rent $22.4 billion worth of infrastructure from CoreWeave.

Meta to pay CoreWeave $21bn for additional cloud capacity

Anthropic has also agreed to rent data centre capacity from CoreWeave. Meta has agreed to pay CoreWeave around $21bn to access the company's AI cloud capacity through till December 2032. The new agreement comes after Meta inked a $14.2bn deal with the company in September, taking the total CoreWeave has in Meta contracts to $35bn. Meta is one of CoreWeave's largest customers, the company said. CoreWeave stocks jumped to more than $97 a share yesterday (9 April). Prices have since settled at around $92. "This is another example that leading companies are choosing CoreWeave's AI cloud to run their most demanding workloads," said Michael Intrator, the co-founder, CEO and chairperson of CoreWeave. The US cloud compute provider is one of the prime beneficiaries of the AI race, having previously inked an expanded $22.4bn deal with OpenAI last year. Today (10 April), Anthropic has agreed to rent data centre capacity from CoreWeave to help train Claude. The multi-year agreement will bring compute online starting later this year. CoreWeave also promised £2.5bn in data centre investments in the UK alongside other Big Tech leaders during US president Donald Trump's visit to the country last September. Meanwhile, Meta, much like its AI rivals has been ramping up spending to bolster its position in the race. Earlier this year, the company announced a planned spending of up to $135bn in 2026. Earlier this week, the company's Superintelligence Labs launched its debut product called Muse Spark, a multimodal "purpose-built" model for Meta's own products. The model will be rolled out to several countries via Meta's Instagram, Facebook and WhatsApp platforms, as well as the company's AI glasses. The company has spent billions in major AI acquisitions, including spending $2bn for the Chinese-founded AI start-up Manus, as well as picking up the viral Moltbook platform and hiring its founders Matt Schlicht and Ben Parr. The company also hired the team behind the personal AI agent builder Dreamer, co-founder of Safe Superintelligence Daniel Gross and Apple's former AI lead Ruoming Pang. Don't miss out on the knowledge you need to succeed. Sign up for the Daily Brief, Silicon Republic's digest of need-to-know sci-tech news.

Anthropic and CoreWeave Enter Collaborative AI Agreement

CoreWeave said the agreement means it now serves nine of the 10 major developers of large language models for artificial intelligence. CoreWeave, a publicly traded AI cloud infrastructure company, announced on Friday a "multi-year" agreement with AI developer Anthropic, which will use CoreWeave's cloud computing data centers for its Claude AI model workloads. The agreement will be rolled out in phases, with the "potential to expand over time," according to CoreWeave's announcement. Shares of CoreWeave surged more than 12% on Friday and are trading at $102.73 at the time of writing. The agreement follows CoreWeave's recent $8.5 billion capital raise, led by tech giant Meta Platforms. The financing was collateralized against CoreWeave's deployed computing capacity, which is tied to predictable cash flows, rather than its graphics processing unit hardware, marking a notable departure from traditional crypto mining financing structures. CoreWeave pivoted away from crypto mining and rebranded as an AI infrastructure company in 2019, as the mining sector faced prolonged economic pressure following the 2018 crypto market downturn. Related: Core Scientific secures up to $1B credit from Morgan Stanley for data centers Bitcoin (BTC) miners are struggling with rising energy costs, reduced rewards and declining crypto asset prices, leading many to repurpose their mining hardware for AI processing. Up to 20% of Bitcoin miners are unprofitable in the current economic environment, according to asset manager CoinShares' latest mining report. Crypto miners must generate yield on their assets by deploying their crypto on decentralized finance (DeFi) platforms to shore up declining revenues, according to market maker Wintermute. The mining industry's economic challenges worsened after the October 2025 market crash, which took BTC down from a high of about $126,000 to the low $60,000 range. Prices have since stabilized around $73,000. The high costs of mining and shrinking profit margins threaten the viability of Bitcoin mining, with AI workloads becoming much more attractive in this environment, according to market analyst Ran Neuner. "Both industries compete for the same thing: electricity, and right now, AI is willing to pay much more for it," he said.

CoreWeave, Meta strike latest $30b deal for AI computing

CoreWeave has struck another, much larger $US21 billion ($30 billion) deal to supply computing power to Meta Platforms through 2032, deepening its business with the social media giant that's trying to catch up in the race to build more powerful artificial intelligence models. CoreWeave will provide AI cloud capacity to Meta from multiple data centres powered in part by the Rubin systems of chips company Nvidia, through December 2032, the company said on Thursday (Friday AEST). CoreWeave now holds $US35 billion in contracts with Meta, making the tech firm one of its largest customers, the company said.

Anthropic's New Multibillion-Dollar Deal Is a Warning Shot to Amazon and Google

Through a new multiyear agreement, CoreWeave will help Anthropic operate its Claude AI models, providing the infrastructure needed to train and deploy increasingly complex systems. The partnership will rely on advanced chips from Nvidia across U.S.-based data centers, CoreWeave CEO Michael Intrator said, according to The Wall Street Journal. Financial terms of the deal, however, were not disclosed. In the AI industry, even the most advanced model makers are becoming deeply dependent on specialized cloud providers to scale. With Anthropic onboard, CoreWeave now counts nearly all of the top AI labs as customers, including OpenAI, Meta, and Microsoft. CoreWeave's growth has been fueled by that demand. The company said Thursday it expanded a deal with Meta worth roughly $21 billion through 2032. It has also deepened its relationship with OpenAI, bringing the total value of its contracts with the company to about $22.4 billion.

Meta Platforms says it will spend an additional $21B on CoreWeave's AI infrastructure - SiliconANGLE

Meta Platforms says it will spend an additional $21B on CoreWeave's AI infrastructure Meta Platforms Inc. said today it's going to throw an additional $21 billion at the cloud artificial intelligence infrastructure provider CoreWeave Inc. as it strives to keep pace with rival AI developers. The deal expands the social media giant's partnership with CoreWeave. In September, it revealed it was going to spend $14.2 billion on the cloud provider's AI compute infrastructure. That original deal was set to run until 2031, but the new deal spans 2027 to 2032, Meta said, giving it access to CoreWeave's much-needed resources for years to come. CoreWeave operates a network of data centers that are stacked with hundreds of thousands of Nvidia Corp.'s graphics processing units, which are the most popular chips for running AI models. Meta needs access to those resources to meet the growing demand for its AI services. Although it's known to operate dozens of its own data center facilities globally, demand is so high that it also needs to rent extra capacity from providers like CoreWeave, which also serves Microsoft Corp., OpenAI Group PBC and other AI firms. In January, Meta said it's going to spend between $115 billion and $135 billion on AI infrastructure this year, almost double the amount it spent in 2025. Meta has a lot of AI projects. It uses AI algorithms to enhance its core advertising business and provides tools for creators across applications such as Facebook, Instagram and Threads. It's also trying to compete with OpenAI, Google LLC and Anthropic PBC as a frontier model developer, but it has struggled to match the success of those rivals. Following the disappointing reception of its last Llama models, Meta pivoted, spending lavishly to set up a new Superintelligence Labs group headed by Alexandr Wang to develop more advanced models. On Wednesday we saw the culmination of that effort when the company released a new model called Muse Spark. With so many AI projects going on, Meta needs tons of compute resources. It has partnered with CoreWeave since 2023, and today's deal suggests it sees more value in its infrastructure resources beyond just extra capacity. CoreWeave Chief Executive Mike Intrator told CNBC that his company's AI infrastructure enables Meta to take full advantage of all of the talent it has hired in the Superintelligence Labs unit. "They hired from across the space, people who have used infrastructure from all different folks, and they came back to us," he pointed out. Meta said the latest investment in CoreWeave expands the company's "portfolio-based approach" to securing AI infrastructure, ensuring it has access to different kinds of resources and suppliers. The deal also helps CoreWeave to reduce its reliance on Microsoft, which remains its biggest customer. In 2024, the Redmond-based company accounted for 62% of CoreWeave's total revenue, but that has since been reduced to just 35%, Intrator said. CoreWeave also said today it will raise an additional $3 billion in debt to fuel its own data center buildout. It has taken on massive loans to try and establish itself as a major player in the AI chip industry, and held more than $21 billion in debt on its balance sheet at the end of fiscal 2025. Then, in March, it borrowed another $8.5 billion to expand its data centers to fulfill the demands of new contracts it has signed. Those deals have helped its stock to rise 24% in the year to date. Intrator told CNBC that he expects to strengthen his company's relationship with Meta even further in the future, as its AI infrastructure buildout is far from finished. "They're going to continue to do it themselves, but they're also going to continue to do it with us," he said.

CoreWeave's $8.5B Deal Signals Shift From Crypto Mining to AI Finance

CoreWeave's recent $8.5 billion AI-backed loan highlights a major transition in how Wall Street finances digital infrastructure, marking a shift from "MinerFi" to "ComputeFi," according to TheEnergyMag. In its latest Miner Weekly newsletter, TheEnergyMag examined CoreWeave's multibillion-dollar raise from a group of banks and investors, backed by Mark Zuckerberg's Meta Platforms. As Bloomberg reported, the financing underscores how companies are finding new ways to fund data center construction and expand GPU capacity. Although CoreWeave has pivoted away from the digital asset sector toward AI-focused data center compute, the move offers a broader lesson on the shortcomings of Bitcoin (BTC) mining finance. Historically, lenders funded Bitcoin mining operations using application-specific integrated circuits, or ASICs, as collateral. However, these models proved fragile due to crypto price volatility and rapid hardware depreciation. When markets declined, both revenues and collateral values fell sharply. CoreWeave's financing structure is "what MinerFi tried -- and failed -- to become," TheEnergyMag said. Unlike prior models, CoreWeave's deal ties financing to active AI infrastructure with contracted customers and predictable cash flows. GPUs must be deployed, operational and revenue-generating before capital is extended, which reduces lender risk. Related: Bitcoin mining's 2026 reckoning: AI pivots, margin pressure and a fight to survive CoreWeave's early pivot away from crypto mining has helped position it as a leading "neocloud" provider, a term used to describe companies offering GPU-based cloud infrastructure for artificial intelligence workloads, according to a recent analyst note by Bernstein. The report compared CoreWeave with peers IREN and Nebius, highlighting differences in scale, infrastructure and financing strategies. CoreWeave's head start has translated into a significantly larger backlog of roughly $67 billion, compared with about $9.7 billion for IREN and $47 billion for Nebius. While all three companies are expanding into AI infrastructure, IREN still generates most of its revenue from Bitcoin mining as it continues its transition. The Bernstein analysts gave CoreWeave top marks for its "commercial model," thanks to the "depth in the software stack, a mix of contracted and on-demand revenue, strong backlog and an increasingly diversified customer base." However, they said IREN has an advantage in infrastructure, citing its sizable real estate footprint rather than its reliance on leased data center capacity.

CoreWeave's April Shockwave -- Meta, Anthropic, Jane Street All Say Yes - CoreWeave (NASDAQ:CRWV), Meta Pl

Meta Doubles Down With $21B Expansion The streak began on April 9, when CoreWeave announced a major expansion of its partnership with Meta Platforms. In its official statement, the company confirmed that Meta added roughly $21 billion in new commitments running through 2032. That brings Meta's total contracted spend with CoreWeave to more than $35 billion. Anthropic Picks CoreWeave For Production Scale A day later, Anthropic signed a multi‑year production agreement with CoreWeave. Neither company disclosed financial terms, but CoreWeave described the deal as covering Anthropic's primary production workloads. Choosing CoreWeave for production‑grade capacity shows how aggressively the AI lab is optimizing for specialized, high‑performance compute. Jane Street Brings Capital -- And Credibility At the same time, Jane Street purchased $1 billion of CoreWeave Class A common stock at $109 per share, a 7% discount to the prior close. That investment immediately placed the firm among CoreWeave's five largest shareholders, with a stake valued around $1.44 billion. Jane Street also secured early access to Nvidia's Vera Rubin chips -- a major draw for quantitative models that increasingly resemble frontier‑scale AI systems. The New AI Bottleneck Isn't Just Big Tech Taken together, the Meta, Anthropic, and Jane Street deals point to a broader shift in the market. Demand for cutting‑edge compute is no longer concentrated among the hyperscalers. Wall Street, consumer‑tech giants, and frontier AI labs are all converging on the same bottleneck -- and CoreWeave has positioned itself directly in that flow. April isn't over yet, but CoreWeave has already delivered one of the most consequential deal streaks of the AI‑cloud era. As for CRWV stock, it's seeing a bit of a bump, with shares up over 50% since the beginning of April. Up over 190% over the past year, the stock still sits ~36% below its 52-week high. Photo: PJ McDonnell / Shutterstock Market News and Data brought to you by Benzinga APIs To add Benzinga News as your preferred source on Google, click here.

Meta Expands CoreWeave Deal to $21 Billion as AI Cloud Demand Grows | PYMNTS.com

By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions. The agreement gives Meta access to large-scale GPU clusters used to train and run artificial intelligence models. CoreWeave builds its infrastructure around chips from Nvidia. These systems support both training and inference workloads. Meta has increased spending on AI infrastructure as it scales its models and products. The company has outlined plans to spend more than $100 billion on AI infrastructure this year. The CoreWeave contract secures supply at a time when demand for GPUs exceeds available capacity. Demand for AI compute has driven the growth of specialized cloud providers often called neoclouds. These companies focus on AI workloads rather than general-purpose computing. They offer direct access to high-performance chips and optimized infrastructure. CoreWeave is one of the largest providers in this group, according to PYMNTS. CoreWeave has expanded its position through partnerships and acquisitions. The company acquired Monolith to extend its cloud into industrial design workloads. It has also attracted investment tied to infrastructure buildout. Nvidia committed $2 billion to CoreWeave to support data center expansion. The company's model depends on long-term contracts with large customers. Meta is now one of its largest clients, alongside Microsoft. These agreements provide predictable revenue and support continued investment in data centers and hardware. CoreWeave plans to spend tens of billions of dollars to expand its infrastructure. The company has relied on debt markets to fund that growth. Its costs are tied to building data centers and securing chip supply at scale. AI workloads are shifting toward inference, where models run inside products after training. That shift requires sustained access to compute rather than one-time training capacity. Companies are securing infrastructure to support ongoing usage as AI systems move into production. Meta is also expanding its AI model lineup. The company introduced Muse Spark, a new large language model aimed at consumer and multimodal use cases, as reported by PYMNTS.

CoreWeave Stock Rises As Meta Expands $21 Billion Agreement And Anthropic Adds AI Workloads, Driving Shar

CoreWeave Inc. (NASDAQ:CRWV) saw a sharp surge in momentum as its AI infrastructure score jumped from 54.6 to 89.86 on a week-over-week basis. CoreWeave Expands AI Deals With Meta And Anthropic The following day, the company said it signed a separate multiyear contract with Anthropic to run its Claude AI models at production scale. The company described the rapid expansion of its customer base as evidence of its growing role in AI infrastructure. CoreWeave stated that nine of the 10 leading AI model providers are currently running workloads on its platform, underscoring its growing role in the AI infrastructure ecosystem, reported Forbes. Industry analysts say the deals reflect an accelerating race for computing power among AI developers as demand for GPUs continues to outpace supply. The Benzinga Edge Stock Rankings indicate a full structural shift in CRWV's price trend, with CoreWeave showing positive momentum across short-, medium- and long-term timeframes. Analysts See CoreWeave Growth Amid AI Deal Risks Futurum Equities strategist Shay Boloor said CoreWeave's CEO believes the company can manage heavy infrastructure costs and debt because they are supported by long-term contracts with major customers. He added that CoreWeave is taking on heavy infrastructure spending because it expects to efficiently run GPUs, service its debt and still generate a profit. JP Morgan analyst Mark R Murphy said CoreWeave's expanded Meta deal was a major step in scaling AI infrastructure, supporting long-term revenue visibility but also carrying execution and capacity risks. He noted the size of Meta's commitment and said it strengthened CoreWeave's growth outlook while shifting focus toward real-world AI inference workloads. Price Action CoreWeave closed at $117.20, up 6.28% on Tuesday, with pre-market trading down 3.78% on Wednesday. Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Photo courtesy: Shutterstock Market News and Data brought to you by Benzinga APIs To add Benzinga News as your preferred source on Google, click here.

CoreWeave Lands Massive $21 Billion Meta Deal - CoreWeave (NASDAQ:CRWV), Meta Platforms (NASDAQ:META)

Meta Deal Drives Upside CoreWeave said Thursday it has expanded its long-term agreement with Meta to provide AI cloud capacity through December 2032, in a deal valued at about $21 billion. The deal underscores rising demand for high-performance AI computing. Dual Note Offerings Proceeds will support general corporate purposes, including debt repayment and capped call transactions to limit dilution. The convertible notes will carry semi-annual interest and may be settled in cash, stock, or both. Technical Analysis At $92.02, CoreWeave is trading 8.1% above its 20-day simple moving average (SMA), the stock's average price over the last 20 sessions, suggesting buyers have controlled the near-term trend. It's also 5.3% above its 100-day SMA, which indicates the intermediate trend has stabilized after the recent dip. The moving average convergence divergence (MACD), a trend/momentum measure, shows MACD at -0.3236 versus a -1.4897 signal line, a bullish setup that often lines up with improving upside momentum. That said, the stock remains 15.4% below its 200-day SMA, consistent with a longer-term chart that still has overhead supply. CoreWeave is up 80.38% over the last 12 months, a backward-looking gain that highlights how quickly sentiment can swing in AI infrastructure names. Within the 52-week range ($33.52 to $187.00), the stock is well off the high but far above the low, which fits a "rebuilding" phase rather than a fresh breakout to new highs. Key Resistance: $88.00 -- a prior ceiling that can act as a "hold-above" area after the breakout. Key Support: $70.50 -- a level where buyers previously stepped in after the March break. Sector Performance CoreWeave is outperforming its Technology sector today, up 3.51% versus XLK down 0.55%, a gap of 4.12 percentage points that points to stock-specific demand. That relative strength is more notable because Technology ranks 10 out of 11 sectors today, putting it near the bottom of the tape. Zooming out, the sector is up 0.92% over the last 30 days but down 3.50% over the last 90 days, which suggests the group has been choppy and prone to pullbacks. CoreWeave's move higher while the sector is red implies the Meta deal is acting as a differentiator versus the average tech name in today's session. Earnings & Analyst Outlook Looking further out, the next major catalyst for the stock arrives with the May 13, 2026 (estimated) earnings report. EPS Estimate: $-1.22 (Down from a loss of 60 cents YoY) Revenue Estimate: $1.96 Billion (Up from 98 cents Billion YoY) Valuation: P/E ratio not provided Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $123.04. Recent analyst moves include: Evercore ISI Group: Outperform (Lowers Target to $120.00) (March 9) Oppenheimer: Initiated with Outperform (Target $140.00) (March 6) Bernstein: Initiated with Underperform (Target $56.00) (March 5) Benzinga Edge Rankings Below is the Benzinga Edge scorecard for CoreWeave,, highlighting its strengths and weaknesses compared to the broader market: Momentum: Bullish (Score: 73.68) -- The stock's trend strength is beating many peers despite a choppy tech tape. Value: Weak (Score: 0.38) -- The market is pricing in aggressive expectations versus typical valuation benchmarks. The Verdict: CoreWeave's Benzinga Edge signal reveals a momentum-driven story paired with a very weak value profile. For longer-term holders, that mix often means the chart can stay strong, but pullbacks can be sharp if growth expectations cool. Top ETF Exposure Significance: Because CRWV carries such a heavy weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock. CRWV Price Action: CoreWeave shares were up 4.35% at $92.76 at the time of publication on Thursday, according to Benzinga Pro data. Photo via Shutterstock Market News and Data brought to you by Benzinga APIs To add Benzinga News as your preferred source on Google, click here.

Evercore ISI reiterates CoreWeave stock rating on Anthropic deal By Investing.com

Investing.com - Evercore ISI reiterated an Outperform rating and $120.00 price target on CoreWeave (NASDAQ:CRWV) following the company's announcement of a multi-year cloud infrastructure agreement with Anthropic. The stock traded at $102.69, posting an 11.87% gain over the past week, though shares remain down 33.5% over the past six months. CoreWeave announced today a multi-year agreement to provide Anthropic with cloud infrastructure to support the development and deployment of the Claude family of AI models. The company did not disclose specific details related to size or timing but indicated the deal will commence later this year. Anthropic will use CoreWeave's cloud platform to run workloads at production scale. The collaboration will begin with a phased roll-out with potential to expand over time. The Anthropic agreement follows a $21 billion expansion with Meta announced yesterday. CoreWeave stated that nine out of ten leading AI companies run their infrastructure on its platform. Evercore ISI views the deal as providing customer diversification and validation of CoreWeave's platform and its ability to secure data center powered shell capacity. In other recent news, CoreWeave announced a significant expansion of its contract with Meta, adding $21 billion to its existing commitments, which now total $35.2 billion through 2032. This new agreement boosts CoreWeave's pro-forma backlog to approximately $87.8 billion, with Meta accounting for about 40% of it. Additionally, CoreWeave has priced a $3.5 billion convertible notes offering with a 1.75% interest rate due in 2032, an increase from the initially planned $3 billion. The company has also priced a $1.75 billion bond offering at a 9.75% yield, with the notes maturing in 2031. CoreWeave recently entered a multi-year agreement with Anthropic to support the development and deployment of Anthropic's Claude AI models. The compute resources for this partnership are anticipated to become available later this year. In light of these developments, Stifel has maintained its Hold rating on CoreWeave, with a price target of $110. These recent activities highlight CoreWeave's strategic expansions and financial maneuvers as it strengthens its position in the market. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

CoreWeave jumps premarket after Claude-maker Anthropic agrees to rent AI capacity By Investing.com

Investing.com - Shares of CoreWeave gained in premarket U.S. trading on Friday after artificial intelligence start-up Anthropic agreed to rent computing power from the specialized cloud provider. In a statement, CoreWeave said the deal will see the company help Anthropic build and deploy its popular Claude AI models. Anthropic and CoreWeave will initially focus on a "phased infrastructure roll-out" with the potential to expand over time, CoreWeave said. The news comes after CoreWeave inked a new $21 billion deal to also provide cloud computing capacity to Facebook-owner Metal Platforms, aiding the social media giant's push to construct the digital infrastructure needed to support cutting-edge AI workloads. Following the announcement of the Meta agreement, CoreWeave's stock price rose by just under 3.5% on Thursday. New Jersey-based CoreWeave offers data centers that house Nvidia's top-of-the-line graphics processing units, which provide the massive computing capacity that hyperscalers such as Meta and its megacap peers have been racing to obtain. Nine of the ten leading AI model providers now leverage CoreWeave's platform, reflecting growing demand for infrastructure that can support AI at scale, CoreWeave said.

CoreWeave: The Standard-Bearer of the AI Gold Rush

As an emblematic example of the artificial intelligence gold rush, CoreWeave has divided observers over the long-term sustainability of its business model. The New Jersey-based company acquires computing power from Nvidia and, in partnership with data center operators, leases it to AI giants - most recently Meta in a $21 billion mega-deal - who thus conveniently outsource their capital expenditure requirements. Optimists argue that it is a win-win arrangement - akin to a logistics firm leasing its fleet or a hotel group its buildings. Cynics, however, point out that CoreWeave is left holding the bag, tasked with acquiring tech assets at bubble-era prices that are prone to rapid depreciation. Nevertheless, the company is riding the wave. In 2022, its revenue was a mere $16m. By 2025, it had surpassed $5bn, and this figure is expected to double again in both 2026 and 2027. To say the expansion has been meteoric would be an understatement, occurring entirely in the wake of chipmaker Nvidia. Over the last four years, CoreWeave has had to invest $22bn. To fund this, the company raised $20bn in debt and issued $3bn in common and preferred shares. The gap is set to widen: for 2026, analysts foresee capital expenditures tripling compared to 2025, rising from $10bn to $30bn. While spectacular, this growth is accompanied by a strained financial structure, as CoreWeave's income statement remains deeply in the red. Net debt already exceeds ten times EBITDA, and in 2025, interest expenses accounted for more than a fifth of total revenue. In January, to address the urgency, Nvidia - already CoreWeave's second-largest shareholder behind hedge fund Magnetar Capital Partners - invested $2bn in a new capital increase. Naturally, the transaction fueled rumors of a conflict of interest, as it is rarely considered sound practice for a supplier to control its distributor. While valuing CoreWeave - whose business relies on a hybrid "neocloud" model - remains impossible given the numerous unknowns and shifting dynamics, members of the management team seem to have a clear view of what comes next, as they have been aggressively offloading their own holdings in the company.

CoreWeave shares surge 8% after securing massive $21B AI deal with Meta By Investing.com

Investing.com -- CoreWeave (NASDAQ:CRWV) shares rose 3% Thursday after the company announced a $21 billion expanded agreement with Meta Platforms to provide AI cloud capacity through December 2032. The long-term deal expands the existing relationship between the two companies and will support Meta's development and deployment of AI infrastructure. The agreement represents a significant commitment to CoreWeave's AI cloud platform for scaling inference workloads. The dedicated capacity will be deployed across multiple locations and will include some of the initial deployments of the NVIDIA Vera Rubin platform. The distributed approach is designed to optimize performance, resilience, and scalability for Meta's AI operations. "This is another example that leading companies are choosing CoreWeave's AI cloud to run their most demanding workloads," said Michael Intrator, Co-founder, CEO, Chairman of CoreWeave. The agreement underscores growing demand for high-performance infrastructure capable of supporting large-scale AI workloads. Shares initially jumped 8% on the Meta announcement but pared gains after CoreWeave disclosed plans for two debt offerings. The company said it intends to offer $1.25 billion aggregate principal amount of senior notes due 2031 in a private offering. The notes will be guaranteed on a senior unsecured basis by certain wholly-owned subsidiaries of CoreWeave. CoreWeave also announced plans to offer $3 billion aggregate principal amount of convertible senior notes due 2032 in a separate private offering. The interest rate, initial conversion rate and other terms will be determined at pricing. The company said it intends to use proceeds from both offerings for general corporate purposes. A portion of the convertible notes proceeds will fund the cost of entering into capped call transactions.

Coreweave announces multi-year agreement with Anthropic

CoreWeave, Inc. is an American technology company founded in 2017, specializing in cloud infrastructure designed for compute-intensive workloads. It has positioned itself as a niche player in a market dominated by generalist giants. Its offering is built on a vertical specialization in artificial intelligence (AI) and related applications, notably high-performance computing (HPC) and graphical rendering. CoreWeave operates a GPU-first architecture, optimized for training and inference of generative AI models. It also targets scientific and financial computing, as well as real-time 3D rendering needs. With its own data centers located in the United States and Europe, the company maintains full control over its infrastructure. This control enables it to deliver high performance, low latency, and flexible deployment capabilities. Some facilities are shared among clients, while others are fully dedicated to a single customer. CoreWeave serves a diverse clientele, ranging from AI startups to research labs, as well as production studios and financial institutions. In addition to its hardware infrastructure, the company develops its own GPU management software. These tools enable intelligent resource allocation, continuous performance optimization, and better cost control. This vertical integration, from hardware to software, enhances the company's competitiveness. CoreWeave stands out through its tailored approach and its ability to meet clients' specific needs. It aims to become the leading provider for AI workloads on a global scale. In a context of surging demand for computing power, its model is appealing due to its specialization and agility.

Meta Commits $21 Billion in Expanded AI Cloud Deal With CoreWeave -- Update

CoreWeave expanded its long-term agreement with Meta Platforms, providing the company with artificial-intelligence cloud capacity through December 2032 for about $21 billion. The cloud services provider on Thursday said the deal will provide increased support for the development and deployment of Meta's AI initiatives. Dedicated capacity will be deployed across multiple locations under the expanded partnership, including some of the initial deployments of Nvidia's Vera Rubin platform. CoreWeave--which first signed a deal with Meta to provide AI cloud infrastructure last fall for about $14.2 billion--said the deal signals accelerating demand for infrastructure capable of supporting complex and large-scale AI workloads. CoreWeave shares rose 4.7%, to $93.10, in premarket trading. "This is another example that leading companies are choosing CoreWeave's AI cloud to run their most demanding workloads," Chief Executive Michael Intrator said. The additional commitment from Meta helps advance CoreWeave's position within the tech industry, allowing the company to fund the massive construction and equipment costs required to support large-scale AI projects. Earlier this year, Nvidia said it was pouring an additional $2 billion into CoreWeave in a vote of confidence in the artificial-intelligence data-center company using Nvidia's chips. And in September, CoreWeave said it was expanding its previous agreement with OpenAI to supply data-center capacity by up to $6.5 billion, bringing the total value of the contract to $22.4 billion. Separately, CoreWeave said Thursday it intends to offer $1.25 billion worth of senior notes, due in 2031, in a private offering. Proceeds from the offering will be used primarily for general corporate purposes, including paying down debt and covering fees tied to the offering.

CoreWeave Expands AI Cloud Infrastructure Deal With Meta for $21 Billion

CoreWeave expanded its long-term agreement with Meta Platforms, providing the company with artificial-intelligence cloud capacity through December 2032 for about $21 billion. The companies said Thursday the deal expands their existing relationship, increasing support for Meta's development and deployment of AI. The dedicated capacity will be deployed across multiple locations and include some of the initial deployments of Nvidia's Vera Rubin platform, they said. The companies previously entered an AI cloud infrastructure deal last fall, worth up to $14.2 billion. CoreWeave shares rose 7.8%, to $95.84, in premarket trading.

Coreweave and Meta announce $21 billion expanded AI infrastructure agreement

CoreWeave, Inc. is an American technology company founded in 2017, specializing in cloud infrastructure designed for compute-intensive workloads. It has positioned itself as a niche player in a market dominated by generalist giants. Its offering is built on a vertical specialization in artificial intelligence (AI) and related applications, notably high-performance computing (HPC) and graphical rendering. CoreWeave operates a GPU-first architecture, optimized for training and inference of generative AI models. It also targets scientific and financial computing, as well as real-time 3D rendering needs. With its own data centers located in the United States and Europe, the company maintains full control over its infrastructure. This control enables it to deliver high performance, low latency, and flexible deployment capabilities. Some facilities are shared among clients, while others are fully dedicated to a single customer. CoreWeave serves a diverse clientele, ranging from AI startups to research labs, as well as production studios and financial institutions. In addition to its hardware infrastructure, the company develops its own GPU management software. These tools enable intelligent resource allocation, continuous performance optimization, and better cost control. This vertical integration, from hardware to software, enhances the company's competitiveness. CoreWeave stands out through its tailored approach and its ability to meet clients' specific needs. It aims to become the leading provider for AI workloads on a global scale. In a context of surging demand for computing power, its model is appealing due to its specialization and agility.