CoreWeave Inks $14 Billion Meta Deal, Highlighting AI Demand (3)

CoreWeave Inc. has signed a deal to supply Meta Platforms Inc. with as much as $14.2 billion worth of computing power, underscoring the massive costs of developing and running advanced AI models.

“They loved our infrastructure in earlier contracts and came back for more,” Chief Executive Officer Michael Intrator said in an interview. As part of the agreement, CoreWeave will provide the social media giant access to Nvidia Corp.’s latest GB300 systems, he said. Meta didn’t provide comment.

CoreWeave shares jumped as much as 15.9% after markets opened in New York. Meta shares declined as much as 1.9%.

The ...