CoreWeave Lands Massive $21 Billion Meta Deal
CoreWeave Inc. (NASDAQ: CRWV ) shares climbed Thursday after the company announced an expanded long-term agreement with Meta Platforms Inc. (NASDAQ: META ) and unveiled plans for multiple debt offerings. Meta Deal Drives Upside CoreWeave said Thursday it has expanded its long-term agreement with Meta to provide AI cloud capacity through December 2032, in a deal valued at about $21 billion. Meta will use CoreWeave’s cloud platform to scale AI inference workloads, with capacity deployed across multiple locations, including early use of Nvidia Corp. (NASDAQ: NVDA ) Vera Rubin systems. The deal underscores rising demand for high-performance AI computing. Dual Note Offerings CoreWeave plans to raise $4.25 billion through two private debt offerings, including $1.25 billion in senior notes due 2031 and $3.0 billion in convertible senior notes due 2032, with an option to upsize by $450 million. Proceeds will support general corporate purposes, including debt repayment and capped call transactions to limit dilution. The convertible notes will carry semi-annual interest and may be settled in cash, stock, or both. Technical Analysis At $92.02, CoreWeave is trading 8.1% above its 20-day simple moving average (SMA), the stock’s average price over the last 20 sessions, suggesting buyers have controlled the near-term trend. It’s also 5.3% above its 100-day SMA, which indicates the intermediate trend has stabilized after the ... Full story available on Benzinga.com
