CoreWeave Stock Surges 8% on Meta AI Partnership, Core Scientific Acquisition Advances

AI cloud computing specialist CoreWeave (CRWV) has secured a massive $14.2 billion agreement with Meta Platforms (META) to provide Nvidia's advanced GB300 systems, Bloomberg reports. Following this announcement, CoreWeave shares surged over 8% in pre-market trading to $132, significantly exceeding its March IPO valuation. The Meta deal helps diversify CoreWeave's revenue streams beyond Microsoft (MSFT), its traditional primary client, and comes after OpenAI's substantial multi-billion dollar commitment. Additionally, Evercore ISI began coverage of CoreWeave with an outperform rating and $175 price target. Core Scientific (CORZ) has scheduled an October 30 special shareholder meeting to vote on the proposed $9 billion acquisition.