Overview

• An SEC 8‑K shows the order was executed on Sept. 25 under a 2023 master services agreement, committing Meta to about $14.2 billion through Dec. 14, 2031 with an option to expand into 2032.
• CoreWeave will provide access to Nvidia’s GB300‑class systems, according to CEO Michael Intrator’s interview reported by Bloomberg; Meta has not commented publicly.
• CoreWeave shares jumped roughly 10% to 16% on the disclosure, extending gains since its March IPO.
• The deal broadens CoreWeave’s customer mix beyond Microsoft, which accounted for about 71% of June‑quarter revenue, and follows a recent OpenAI expansion that brings that relationship to roughly $22.4 billion.
• Investors are weighing rapid backlog growth against capital intensity and leverage, even as Nvidia’s $6.3 billion multi‑year utilization backstop helps de‑risk capacity through 2032.