CoreWeave’s CRWV position in the rapidly growing AI infrastructure market is likely to get a boost following its recent deal with Meta Platforms META. Under the partnership, CRWV will supply META with cloud computing capacity. Depending on certain conditions, Meta will initially pay up to $14.2 billion through Dec. 14, 2031, with an option to expand significantly through 2032 for more cloud capacity. This deal indicates increasing confidence in emerging AI infrastructure providers like CoreWeave, beyond established players such as Amazon Web Services and Microsoft’s MSFT Azure.

The META deal comes after the recent OpenAI contract expansion. The new contract, worth $6.5 billion, involves CRWV supplying capacity for OpenAI training of its next-generation models. The total value of OpenAI contact now stands at an impressive $22.4 billion, which includes $11.9 billion agreement in March and $4 billion expansion in May. The contracts with META and OpenAI (which is a leading AI company) not only enhance revenue visibility for CRWV but also validate its AI infrastructure as cutting-edge and reliable.

Moreover, collaboration with NVIDIA is another positive aspect. CRWV’s cloud services are also optimized for NVIDIA GB200 NVL72 rack-scale systems. Additionally, the company deployed NVIDIA GB200 NVL72 and HGX B200 systems at scale, integrated into its “Mission Control” for enhanced reliability and performance. NVIDIA also has an agreement with CRWV to purchase residual unsold capacity through April 13, 2032, subject to certain conditions.

However, the road to market dominance would not be easy, given that the incumbents in this space still command vast financial resources. There is also fierce competition from upcoming players like Nebius NBIS, which CoreWeave needs to watch out for. Another challenge will be scaling efficiently without compromising profitability and margins.

Nonetheless, these various contracts mark a pivotal moment for CRWV, but maintaining this momentum will require disciplined execution, prudent capex management and continued innovation amid rising competition.

Nebius, while smaller in scale, has emerged as an intriguing challenger to CoreWeave. NBIS is also experiencing hypergrowth with revenues surging 625% year over year to $105.1 million in the second quarter of 2025. AI cloud infrastructure revenues grew more than nine times year over year, driven by demand for copper GPUs and near-peak GPU utilization. Explosive revenue growth demonstrates Nebius’ ability to capture demand in a rapidly expanding AI infrastructure market. With the new Blackwell GPUs entering the market at scale and its data center capacity expanding significantly in parallel, the company expects a substantial increase in sales by year-end.