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meta Pledged to spend an additional $21 billion on AI cloud infrastructure. coreweavethis is on top of a prior deal of $14.2 billion as the social media company continues to ramp up its investment in artificial intelligence.
The new agreement announced Thursday runs from 2027 to 2032. The previous agreement, unveiled in September, ran until 2031.
CoreWeave has hundreds of thousands of data centers. Nvidia Graphics processing units that can support AI models provide the critical infrastructure hyperscalers need to scale rapidly to meet what they call insatiable demand. Meta and its peers are building their own facilities, but they also need capabilities from companies like CoreWeave. google, micro softwaret, OpenAI, etc.
Meta announced in March that it would spend $10 billion on a data center in Texas.
“Certainly, they can buy compute,” CoreWeave CEO Mike Intrator said in an interview with CNBC. “But for some reason, all the people who can buy computing feel the need to buy it from us because of the quality of the product we provide.”
Meta said in its last earnings report that it plans capital spending of $115 billion to $135 billion this year, which is higher than Wall Street expectations and nearly double its 2025 capital spending.
While Meta’s core advertising business has benefited from a focus on AI, the company has struggled to gain traction in a world of AI models currently dominated by OpenAI, Anthropic, and Google. Meta has spent the luxury of establishing a Superintelligence Labs group to develop advanced AI models, and on Wednesday announced a new model called Muse Spark.
Meta has been partnering with CoreWeave since 2023, and Intrator said the company’s infrastructure will allow Meta to better utilize all the AI talent it acquires.
“They employed people from all over the universe who used different people’s infrastructure, and they came back to us,” Intrater said.
In an emailed statement, a Meta spokesperson said the partnership with CoreWeave is “part of our portfolio-based approach to infrastructure as we invest in capabilities for our AI ambitions.”
The new business will help CoreWeave further diversify from its traditional business. microsoftaccounting for 62% of its 2024 revenue. Going forward, Intrater said, no customer will account for more than 35% of total sales.
CoreWeave, which went public last year, had $21 billion in debt on its balance sheet at the end of 2025, and borrowed another $8.5 billion in March to add infrastructure for new contracts. The company’s stock is up 24% so far this year, while the S&P 500 index is down about 1% over the same period. Meta is down about 7% after rebounding on Wednesday following the announcement of a new model.
Intrater expects the meta relationship with CoreWeave to grow further as parent company Facebook opens more data centers.
“They’re going to continue to do it on their own, but they’re going to continue to do it with us,” he said. “The risks are too great otherwise.”
WATCH: Meta launches Muse Spark AI model to rival top chatbots
