Coreweave (CRWV), an AI-focused Cloud Computing Company, secured an agreement of $ 14.2 billion with Meta Platforms (Meta) to deliver Nvidia’s latest GB300 systems, according to a Bloomberg report with reference to an interview with CEO Michael Intrator.
Shares in the company, which are in the process of buying Core Scientific (Corz) for $ 9 billion, jumped more than 8% prior to $ 132, more than triple the value of the first public offer in March.
The agreement diversifies its revenue away from Microsoft (MSFT), historically its largest customer, and follows a commitment of several trillion dollars from Openai, according to Bloomberg.
In addition, EVERCORE ISI covered Coreweave with a better rating and a price target of $ 175.
Core Scientific planned a special shareholder meeting for October 30 to vote on the acquisition, according to a Fridag’s SEC archiving.
