Mentioned:
Meta is pouring billions into high performance computing. And they’re partnering with CoreWeave to do it.
What’s happening:
- CoreWeave (NASDAQ: CRWV) has landed a new deal with Meta (NASDAQ: META) which is worth up to $14.2B USD for high performance computing and artificial intelligence workloads
Why it matters:
- This is the largest deal that Meta and CoreWeave have ever done together and the second largest deal that CoreWeave has ever landed in the history of the company, behind only OpenAI’s recent $22.4B USD deal
Going deeper:
- Meta has been scaling up their investments into high performance computing and data centres lately, including recently making waves when they struck a large scale power purchase agreement with Enbridge (NYSE: ENB) to secure solar energy to power their own data centres
- There have been a flurry of new multi billion dollars deals for artificial intelligence workloads on Wall Street recently, notably fuelled by Google (NASDAQ: GOOG) backstopping two different multiple billion dollar deals with TeraWulf (NASDAQ: WULF) and Cipher Mining (NASDAQ: CIFR)
