Meta commits to spending additional $21 billion with CoreWeave as AI costs keep rising
Meta increases investment in AI infrastructure with CoreWeave.
Meta has announced a significant commitment of an additional $21 billion to AI cloud provider CoreWeave, building on a previous $14.2 billion agreement. This investment, which spans from 2027 to 2032, aims to enhance Meta's AI infrastructure while leveraging CoreWeave's capabilities, particularly its extensive use of Nvidia graphics chips, to meet the growing demand for AI resources.
Key Takeaways
- 1.
Meta's total commitment to CoreWeave now stands at $35.2 billion.
- 2.
CoreWeave's infrastructure supports major clients like Google and OpenAI.
- 3.
Meta plans to spend between $115 billion and $135 billion on capital expenditures this year.
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