CoreWeave, Meta Strike Latest $21 Billion Deal for AI Computing

CoreWeave Inc. has struck another, much larger $21 billion deal to supply computing power to Meta Platforms Inc. 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 centers powered in part by the Rubin systems of chips company Nvidia Corp., through December 2032, the company said in a statement Thursday. CoreWeave now holds $35 billion in contracts with Meta, making the tech firm one of its largest customers, the company said.