Meta Signs $21 Billion AI Infrastructure Deal With CoreWeave Through 2032

Quick Facts

• Meta signed a $21 billion deal with CoreWeave for AI cloud capacity through December 2032, adding to a prior $14.2 billion commitment
• The infrastructure will include early deployments of NVIDIA’s Vera Rubin platform across multiple locations starting in 2027
• CoreWeave reported $5.13 billion in 2025 revenue, up 168% year-over-year, with total revenue backlog now at $66.8 billion

Meta Platforms announced a $21 billion expansion of its partnership with CoreWeave on April 9, extending their AI infrastructure agreement through December 2032. The deal brings Meta’s total commitment to the cloud infrastructure company to $35.2 billion.

The new agreement runs from 2027 to 2032 and will deploy dedicated capacity across multiple locations. The infrastructure will feature some of the first deployments of NVIDIA’s Vera Rubin platform, designed to accelerate agentic AI and advanced reasoning capabilities.

CoreWeave CEO Michael Intrator said the deal demonstrates that “leading companies are choosing CoreWeave’s AI cloud to run their most demanding workloads.” A Meta spokesperson called the partnership “part of our portfolio-based approach to infrastructure, as we invest in capacity for our AI ambitions.”

The announcement boosted both companies’ stock prices. CoreWeave shares rose 4% to $92, while Meta gained 2.6%. CoreWeave reported explosive growth with 2025 revenue of $5.13 billion, up 168% from the previous year.

CoreWeave projects 2026 revenue between $12 billion and $13 billion, implying growth of 134% to 153%. The Meta deal pushes the company’s total revenue backlog to $66.8 billion, representing 342% growth from early 2025.

The partnership helps CoreWeave diversify its customer base beyond Microsoft, which represented 62% of 2024 revenue. With the new deals, no single customer will represent more than 35% of total sales.

CoreWeave is financing its expansion with $3 billion in fresh debt, including convertible senior notes due 2032. The company already holds $21 billion in debt and borrowed another $8.5 billion in March for infrastructure tied to new contracts.

Meta plans to spend $115 billion to $135 billion on capital expenditures in 2026, nearly double its 2025 spending. The company has partnered with CoreWeave since 2023 as demand for AI infrastructure outpaces internal capacity.

Read more: Meta says it will spend an additional $21B on CoreWeave’s AI infrastructure