CoreWeave (NASDAQ:CRWV) shares popped 8.7% in premarket trading on Tuesday amid a new $14.2B deal with Meta Platforms (NASDAQ:META) for artificial intelligence computing power.
Under terms of the deal, which were first reported by Bloomberg, CoreWeave will provide the Mark Zuckerberg-led company with access to Nvidia’s (NASDAQ:NVDA) latest GB300 comments.
“They loved our infrastructure in earlier contracts and came back for more,” Chief Executive Officer Michael Intrator told the news outlet.
Meta Platforms did not immediately respond to a request for comment from Seeking Alpha.
CoreWeave has recently expanded its list of clients beyond Microsoft (MSFT), which was its largest customer. Earlier this month, it expanded an agreement with OpenAI by up to $6.5B to power the training of the AI startup’s most advanced next-generation models through its infrastructure. The new agreement brings the total contract value with Microsoft (NASDAQ:MSFT)-backed OpenAI up to about $22.4B.
Meta shares rose 0.3% in premarket trading, while Nvidia was up 0.5%.
