Shares of CoreWeave, a U.S. data center operator, are surging. The jump came after reports that it signed a computing power supply deal worth 20 trillion won with Meta Platforms, Facebook's parent company (hereafter Meta).
As of 12:16 p.m. on the 30th (local time), CoreWeave shares were trading at $138.49 on the New York Stock Exchange, up 13.03% from the previous day.
CoreWeave disclosed the deal with Meta in a filing the same day. It said the contract is valid through Dec. 2031 and includes an option to extend to 2032 if additional capacity is secured.
The deal comes five days after CoreWeave announced an expanded contract with OpenAI. On the 25th, CoreWeave said it increased its contract to supply data center capacity to OpenAI by up to $6.5 billion. The total contract value rose to as much as $22.4 billion.