CoreWeave Climbs on Meta AI Deal Valued at $14.2B, Eyes Core Scientific Merger

CoreWeave Stock Rockets on $14.2B Meta AI Deal Ahead of Core Scientific Merger

CoreWeave (CRWV), the AI-focused cloud computing firm, has secured a $14.2 billion contract with Meta Platforms (META) to supply Nvidia’s GB300 systems, Bloomberg reports, citing CEO Michael Intrator.

Shares surged 16.5% to $142.67, more than triple the price of its March IPO, as investors cheered the landmark deal.

The agreement diversifies CoreWeave’s revenue beyond Microsoft (MSFT), its historical largest client, and follows a prior multibillion-dollar engagement with OpenAI.

Evercore ISI initiated coverage with an outperform rating and a $175 price target, reflecting strong analyst confidence.

Meanwhile, CoreWeave’s $9 billion acquisition of Core Scientific (CORZ) is moving forward, with a shareholder vote scheduled for October 30, according to an SEC filing.