CoreWeave & Meta: $14.2B AI Cloud Deal

CoreWeave CRWV 12.33%increase; green up pointing triangle inked an up to $14.2 billion contract with Meta -1.96%decrease; red down pointing triangle Platforms to provide the social-media company with artificial-intelligence cloud infrastructure.

CoreWeave’s stock jumped almost 15% to $140.79 in morning trading Tuesday on the disclosure. Shares have surged since March, when the New Jersey-based company priced its initial public offering at $40 a share, fueled by a series of high-profile contract wins and upbeat earnings reports.