CoreWeave's shares rose nearly 12% after announcing a $14.2 billion agreement to provide Meta with artificial intelligence cloud infrastructure, following a recent $6.5 billion expansion with OpenAI. The deal highlights the growing partnerships essential for AI advancements, as Meta invests significantly in expanding its AI capabilities and infrastructure by 2032.

CoreWeave is set to acquire Core Scientific in an all-stock deal valued at approximately $9 billion, enhancing its infrastructure for artificial intelligence while eliminating $10 billion in lease obligations. The transaction, pending regulatory approval, will significantly expand CoreWeave's data center capacity and may allow for the transformation of Core Scientific's cryptocurrency business to support AI workloads. Core Scientific shareholders will receive CoreWeave shares, valuing their stake at a premium.

CoreWeave has expanded its partnership with OpenAI through a new contract worth $6.5 billion, raising the total value of their agreements to $22.4 billion. This expansion highlights the increasing demand for AI infrastructure and follows significant investments in data center capabilities by OpenAI and its partners.