CoreWeave Surges 8% Pre-Market on Meta AI Deal and Core Scientific Merger Prospects

CoreWeave (CRWV), an AI-driven cloud computing firm, saw its shares jump more than 8% in pre-market trading following news of a $14.2 billion agreement with Meta Platforms (META). The deal, centered on supplying Nvidia's cutting-edge GB300 systems, marks a strategic pivot away from CoreWeave's historical reliance on Microsoft (MSFT) as its primary revenue source.

The company's stock, now trading at $132, has more than tripled since its March IPO. This surge comes amid ongoing negotiations to acquire Bitcoin miner Core Scientific (CORZ) in a $9 billion deal, with a shareholder vote scheduled for October 30.

Analyst Optimism continues to build, with Evercore ISI initiating coverage at an outperform rating and $175 price target. The Meta partnership follows OpenAI's multibillion-dollar commitment, underscoring growing institutional demand for AI infrastructure.