Meta Secures AI Infrastructure... U.S. Company Wins $21 Billion Long-Term Contract

CoreWeave, Inc. (NASDAQ: CRWV) has signed a long-term AI infrastructure agreement with Meta Platforms valued at approximately $21 billion, under which it will supply dedicated AI cloud capacity through 2032. Equivalent to roughly 27 trillion Korean won, the deal calls for deploying data-center capacity across multiple regions and supporting Meta’s large-scale AI inference needs, including the initial rollout of NVIDIA’s “Vera Rubin” platform.

At the same time, CoreWeave plans a private placement of convertible senior notes due 2032, initially targeting up to $3 billion (about 4 trillion won). Chief Development Officer Branin McBee has sold a portion of his shares under a pre-arranged trading plan but remains a major shareholder.

Shortly after the announcement, the company upsized the notes offering from $3 billion to $3.5 billion, setting the pricing on the 1.75% coupon convertible notes due 2032—and structured the deal to allow total proceeds to reach as much as $4 billion. Following its agreement with Meta, CoreWeave has also secured a multi-year GPU infrastructure contract with AI startup Anthropic, rapidly expanding its long-term customer pipeline.

Headquartered in New Jersey, CoreWeave specializes in AI-optimized cloud infrastructure, leveraging high-performance NVIDIA GPU computing resources to serve generative AI and Big Tech clients such as Meta, OpenAI, and Microsoft. As the proliferation of generative AI drives a surge in ultra-high-performance computing demand, the AI infrastructure sector—including CoreWeave—is seeing a wave of multi-billion-dollar long-term contracts and large-scale capital raises.