Meta Secures $21 Billion AI Infrastructure Contract, U.S. CDO Stake Sale Detected

CoreWeave, Inc. (Nasdaq: CRWV) has signed a long-term AI infrastructure agreement with Meta Platforms worth approximately $21 billion through December 2032, under which it will provide dedicated cloud capacity for Meta’s large-scale AI inference needs.

The contract calls for capacity expansions at multiple regional data centers and the initial deployment of NVIDIA’s next-generation Vera Rubin platform to meet Meta’s growing high-performance computing requirements.

Meanwhile, according to a Form 10b5-1 trading plan established in late March, Chief Development Officer Brennin McBee converted a portion of his Class B shares into Class A shares and then sold Class A shares valued at several hundred million Korean won through his personal, spousal and trust accounts. Regulatory filings show he still retains a significant stake.

To fund its AI infrastructure expansion, CoreWeave secured an $8.5 billion loan on March 31 and in April issued $3.5 billion in convertible notes along with $1.75 billion in corporate bonds.

The company has also entered into a multi-year AI cloud infrastructure agreement with Anthropic, adding another major client after Meta and building a substantial long-term revenue backlog.

Headquartered in New Jersey, CoreWeave is an AI-focused cloud computing firm that provides high-performance compute resources to clients such as Meta and OpenAI via NVIDIA GPU-based data centers, and it went public on the Nasdaq in 2025.

Amid a surge in demand for high-performance GPU cloud services driven by generative AI, CoreWeave is competing for market share in the AI infrastructure space alongside Amazon AWS, Microsoft Azure and Google Cloud.