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CoreWeave Stock Surges on $14.2B Meta AI Deal, Core Scientific Merger Looms
CoreWeave secures $14.2 billion dollar Meta contract, draws bullish analyst coverage, and awaits Core Scientific merger vote.
Updated Sep 30, 2025, 2:58 p.m. Published Sep 30, 2025, 1:29 p.m.
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What to know:
- CoreWeave signed a $14.2 billion agreement to supply Meta with Nvidia’s latest GB300 systems.
- Evercore ISI initiated coverage with an “outperform” rating and a $175 price target.
- Core Scientific shareholders set to vote Oct. 30 on a $9 billion all-stock transaction that would make the bitcoin miner a CoreWeave subsidiary.
CoreWeave (CRWV), an AI-focused cloud computing company, secured a $14.2 billion deal with Meta Platforms (META) to supply Nvidia’s latest GB300 systems, according to a Bloomberg report citing an interview with CEO Michael Intrator.
Shares in the company, which is in the process of buying Core Scientific (CORZ) for $9 billion, jumped as much as 16.5% to $142.67, more than triple the value of its March initial public offering.
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The agreement diversifies its revenue away from Microsoft (MSFT), historically its largest customer, and follows a multibillion-dollar commitment from OpenAI, according to Bloomberg.
In addition, Evercore ISI initiated coverage on CoreWeave with an outperform rating and a $175 price target.
Core Scientific scheduled a special shareholder meeting for Oct. 30 to vote on the takeover, according to a Friday SEC filing.
UPDATE (Sept. 30, 14:58 UTC): Updates share price after market opening, removes pre-market move from headline.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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