CoreWeave Secures $14.2B Meta Deal, Shares Surge 8% Pre-Market

CoreWeave secured a $14.2 billion deal with Meta Platforms to supply Nvidia's latest GB300 systems.
Shares of CoreWeave increased by over 8% pre-market, reaching $132, more than triple since its March IPO.
The agreement helps diversify CoreWeave's revenue away from its largest customer, Microsoft, and follows a multibillion-dollar commitment from OpenAI.
Evercore ISI started coverage on CoreWeave with an outperform rating and a $175 price target.
Core Scientific plans a special shareholder meeting on Oct. 30 to vote on its takeover by CoreWeave.