In a monumental move for New Jersey’s technology sector, Livingston-based CoreWeave on Thursday announced a $21 billion expanded agreement with Meta Platforms, Inc. The long-term deal, which extends through December 2032, positions the New Jersey “AI Cloud” pioneer as a primary engine behind Meta’s rapidly scaling artificial intelligence operations.
Under the terms of the agreement, Meta will leverage CoreWeave’s specialized infrastructure to support its inference workloads—the process of running live AI models for billions of users.
The $21 billion commitment represents one of the largest private-sector infrastructure deals in New Jersey’s recent history. It underscores the state’s growing role as a hub for high-performance computing, moving beyond its traditional strengths in pharmaceuticals and finance.
CoreWeave, which went public on the Nasdaq in March 2025, has seen a meteoric rise. Founded in 2017, the company has pivoted from its roots in Ethereum mining to becoming what it calls “The Essential Cloud for AI,” specifically designed to handle the intense computational demands of Large Language Models (LLMs).
“This is another example that leading companies are choosing CoreWeave’s AI cloud to run their most demanding workloads,” Michael Intrator, co-founder and CEO of CoreWeave said.
The agreement isn’t just about scale; it’s about cutting-edge hardware. The capacity provided to Meta will include some of the first deployments of the NVIDIA Vera Rubin platform.
By deploying this capacity across multiple distributed locations, CoreWeave aims to provide Meta with:
- Optimized Performance: Lower latency for AI-driven features across Meta’s apps.
- Resilience: A distributed architecture that protects against localized outages.
- Scalability: The ability to rapidly increase compute power as AI models become more complex.
For New Jersey business leaders, the deal is a clear signal that the state can compete for the “compute gold rush.” As AI continues to integrate into logistics, finance, and health care—industries where New Jersey already holds a dominant position—having a homegrown infrastructure giant like CoreWeave provides a significant competitive advantage for the regional ecosystem.
The scale of this deal—nearly triple the size of some of the largest state-level corporate incentive packages—highlights the sheer capital intensity of the AI era and CoreWeave’s solidified position as a Tier-1 provider alongside giants like Microsoft and Amazon.
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Fresh off the heels of this $21 billion infrastructure agreement with Meta, CoreWeave is also announced on Thursday that it is moving to further solidify its war chest. The Livingston-based firm intends to offer $3.0 billion in aggregate principal amount of convertible senior notes due 2032 in a private offering.
The company also plans to grant initial purchasers an option to acquire up to an additional $450 million in notes, potentially bringing the total capital raise to nearly $3.5 billion.
