Meta (META) is doubling down on artificial intelligence with a pair of multi-billion-dollar moves that highlight both its reliance on outside compute and its drive to build custom silicon.
The company signed a $14.2 billion agreement with CoreWeave (CRWV) to lock in access to Nvidia-powered infrastructure through December 2031, with an option to extend into 2032, reports Reuters.
CRWV surged 15% on the news, valuing the firm at about $60 billion.
The contract gives Meta access to Nvidia’s latest GB300 systems. For the social media giant, the deal underscores its effort to strengthen the backbone behind products such as its Ray-Ban smart glasses.
Meta has invested tens of billions of dollars in US data centers and is paying premium salaries to recruit AI engineers, but it is also trying to reduce reliance on external providers by building custom silicon.
The company also says it intends to acquire Santa Clara–based chip startup Rivos, a specialist in RISC-V architecture backed by Intel CEO Lip-Bu Tan.
Yee Jiun Song, vice president of engineering at Meta, says the plan highlights the tech giant’s commitment to its Meta Training and Inference Accelerator (MTIA), a family of custom-designed silicon chips aiming to power the firm’s artificial intelligence workloads.
“Given the success of our first two AI accelerators, we are eager to accelerate and expand our MTIA roadmap. Rivos has deep technical expertise and experience designing and developing the full stack of AI systems.”
The startup, last valued at around $2 billion, has been one of Meta’s suppliers.
Meta did not disclose the financial terms of the Rivos deal, and the company did not respond to Reuters’ request for comment.
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