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00:02Meta committed to spending an additional $21 billion on AI cloud infrastructure from CoreWeave
00:07under a new agreement running from 2027 to 2032, according to CNBC. The move adds to a prior $14.2
00:13billion deal that extends through 2031. CoreWeave provides data center capacity using NVIDIA GPUs
00:19to support AI workloads as demand rises. Meta said it will spend $115 billion to $135 billion
00:26in capital expenditures this year, nearly double 2025 levels. The company also announced a $10
00:31billion Texas data center in March. Meta's advertising business has benefited from AI,
00:36but the company has struggled to gain traction in AI models, even as it invests heavily in its
00:41superintelligence labs and launched the Muse Spark model. CoreWeave said the deal will reduce its
00:45reliance on Microsoft, which accounted for 62% of 2024 revenue, with no customer expected to exceed 35%.
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