Meta commits another $21 billion to CoreWeave, bringing total AI cloud spend to $35 billion

Meta has expanded its AI cloud contract with CoreWeave by an additional $21 billion, bringing the total relationship to approximately $35 billion through 2032. The new deal focuses on inference workloads for Meta's Llama models serving billions of users across Facebook, Instagram, WhatsApp, and Meta AI, and includes early deployments of Nvidia's Vera Rubin platform. For CoreWeave, the deal reduces its dangerous revenue concentration on Microsoft from 62% to under 35% of total sales. To fund the expansion, CoreWeave is raising $4.25 billion in new debt. The deal follows a separate $27 billion infrastructure agreement Meta signed with Nebius in March 2026, reflecting Meta's strategy of building a diversified multi-vendor AI infrastructure position. CoreWeave's contracted backlog now exceeds $66 billion, and its total debt load stands at around $30 billion.