Coreweave (CRWV), a cloud computing company focused on AI, has entered into an agreement of 14.2 billion dollars with Meta Platform (META) to provide the latest NVIDIA GB300 systems, according to a Bloomberg report citing an interview with CEO Michael Intrator.
The company’s shares, which are buying Core Scientific (CORZ) for $ 9 billion, jumped up to $ 16.5% to $ 142.67, more than triple the value of its first public call in March.
The agreement diversifies its revenues from Microsoft (MSFT), historically its greatest client, and follows a commitment of several billion dollars in Openai, according to Bloomberg.
In addition, Evercore ISI initiated coverage on Coreweave with an outperformance note and a price target of $ 175.
Core Scientific has planned a special shareholder meeting for October 30 to vote on the takeover, according to a FRIDAY SEC file.
Update (September 30, 14:58 UTC): Update the course of action after opening the market, removes the trip before the title market.
