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CoreWeave Stock Climbs on Meta Deal. Why Two Is Better Than One.

Sep 30, 2025 09:24:00 -0400 by Mackenzie Tatananni | #Chips

CoreWeave said it had landed a $14.2 billion deal with Meta Platforms. (Courtesy CoreWeave)

Key Points

CoreWeave stock surged in early trading Tuesday after the artificial-intelligence cloud service provider unveiled an up to $14.2 billion deal with Meta Platforms , a deal that adds another large revenue customer to its roster of clients.

In a Form 8-K filed Tuesday with the Securities and Exchange Commission, the company confirmed it had entered into a new order agreement with Meta, which guarantees CoreWeave will provide Meta access to cloud computing capacity.

Meta will pay up to $14.2 billion through Dec. 14, 2031, with the option to “materially expand” its commitment through 2032 for additional cloud computing capacity, CoreWeave said.

In early trading Tuesday, CoreWeave stock was up 15% to $140.38.

Several Wall Street analysts were bullish on the new deal and how it will further diversify CoreWeave’s revenue base. “META expansion announced today is a positive that provides further diversification away from the OpenAI/MSFT ecosystem in addition to multiple years of revenue visibility,” Evercore analyst Amit Daryanani wrote in note to clients.

It was only the latest in a string of deals for the company. Earlier this month, CoreWeave announced a $6.3 billion deal with Nvidia , under which the chip maker agreed to buy any unsold cloud-computing capacity through April 13, 2032.

Last week, CoreWeave also announced an expanded business agreement with OpenAI of up to $6.5 billion. After the agreement, the total value of the OpenAI contract went up to $22.4 billion. CoreWeave said OpenAI would use the new capacity to train its “most advanced” next-generation AI models.

Founded in 2017, CoreWeave provides large-scale access to graphics processing units, or GPUs, via the cloud.

Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com