Meta to pay CoreWeave $21bn for additional cloud capacity

AI rival Anthropic has also agreed to rent data centre capacity from CoreWeave.

Meta has agreed to pay CoreWeave around $21bn to access the company’s AI cloud capacity until December 2032.

The new agreement comes after Meta inked a $14.2bn deal with the company in September, taking the total CoreWeave has in Meta contracts to $35bn. Meta is one of CoreWeave’s largest customers, the company said.

CoreWeave stocks jumped to around $97 a share yesterday (9 April). Prices have since settled at around $92.

“This is another example that leading companies are choosing CoreWeave’s AI cloud to run their most demanding workloads,” said Michael Intrator, the co-founder, CEO and chairperson of CoreWeave.

The US cloud compute provider is one of the prime beneficiaries of the AI race, having previously inked an expanded $22.4bn deal with OpenAI last year.

Today (10 April), Anthropic has also agreed to rent data centre capacity from CoreWeave to help train its Claude model. The multi-year agreement will bring compute online starting later this year.

CoreWeave also promised up to £2.5bn in data centre investments in the UK alongside promises from other Big Tech leaders during US president Donald Trump’s visit to the country last September.

Meanwhile, Meta, much like its AI rivals, has been ramping up spending to bolster its position in the race. Earlier this year, the company announced a planned spending of up to $135bn in 2026.

Earlier this week, the company’s Superintelligence Labs launched its debut product Muse Spark, a multimodal, “purpose-built” model for Meta’s own products. The model will be rolled out to several countries via Meta’s Instagram, Facebook and WhatsApp platforms, as well as the company’s AI glasses.

The company has spent billions in major AI acquisitions, including $2bn for the Chinese-founded AI start-up Manus, as well as picking up the viral Moltbook platform and hiring its founders Matt Schlicht and Ben Parr.

The company has also hired the team behind the personal AI agent builder Dreamer, co-founder of Safe Superintelligence Daniel Gross and Apple’s former AI lead Ruoming Pang.

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