CoreWeave Inc. said on Tuesday it has struck an agreement to supply Meta Platforms Inc. with up to $14.2 billion of artificial intelligence cloud infrastructure, underscoring the steep costs associated with building and deploying advanced AI models.
CoreWeave Inc shares rose 11.5% to $136.95 premarket on Tuesday after the company disclosed a significant expansion of its cloud services relationship with Meta Platforms Inc (NASDAQ:META). The new order reinforces the position of the company as a key player in the rapidly expanding AI infrastructure market.
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