CoreWeave has announced a new multi-year deal with AI developer Anthropic to power its AI model Claude, following a significant $21 billion partnership with Meta announced just a day earlier. While the financial details of the Anthropic agreement remain undisclosed, this deal marks CoreWeave’s ninth partnership with leading AI providers, including industry giants like OpenAI, Google, Microsoft, and Meta. These collaborations underscore CoreWeave’s growing role as a key infrastructure provider in the AI sector.
The recent announcement with Meta involves CoreWeave supplying AI cloud capacity valued at $21 billion through December 2032, utilizing multiple data centers equipped with Nvidia chips. This deal builds on a previous $14.2 billion agreement, bringing CoreWeave’s total contracted commitments with Meta to $35 billion. These back-to-back deals highlight the intense competition among tech companies to secure the necessary hardware, processing power, and energy resources essential for training and deploying increasingly complex AI models.
CoreWeave is simultaneously pursuing an aggressive expansion strategy, targeting capital expenditures of $30 to $35 billion for 2026, up from approximately $15 billion in 2025. CEO Mike Intrator defended this spending approach amid criticism following the company’s February earnings report, emphasizing the enormous backlog of demand CoreWeave is experiencing. Since going public in March 2025, CoreWeave’s stock has seen significant volatility, rising 160% overall but dropping nearly 45% from its peak last June, with a 30% gain so far this year.
Financially, CoreWeave reported $5.1 billion in revenue for 2025, nearly tripling its $1.9 billion revenue from 2024. However, the company is not yet profitable, posting a net loss of $1.1 billion. Investors will be closely monitoring the upcoming quarterly earnings report on May 13th for more details on the Anthropic deal’s scope and duration, as well as CoreWeave’s ability to convert its growing debt into sustainable, high-margin cash flows.
Overall, CoreWeave’s recent deals with Anthropic and Meta, combined with its aggressive capital expenditure plans, position the company as a critical player in the AI infrastructure market. The company’s growth trajectory reflects the broader industry scramble to secure advanced computing resources necessary for AI development, even as it navigates financial challenges and market volatility.
