Meta and $27 Billion AI Cloud Contract: Development Lead Sells Large Stake

CoreWeave, Inc. (CRWV) has expanded and extended its long-term infrastructure agreement with Meta Platforms to supply dedicated AI cloud capacity through December 2032. The deal is expected to total around $21 billion (approximately KRW 27 trillion). CoreWeave plans to deploy equipment across multiple regions and adopt NVIDIA’s next-generation Vera Rubin platform early to support Meta’s large-scale AI inference and high-performance computing needs.

Chief Development Officer Brannin McBee converted his Class B common shares into Class A shares in late March over two transactions. Under a pre-established Rule 10b5-1 trading plan, he then sold tens of millions of dollars’ worth of shares from his personal, spousal and family trust accounts—equivalent to several hundred billion won. Although some accounts sold most of their holdings, regulatory filings show he still retains millions of shares through direct ownership and indirect holdings via his spouse and trusts.

In addition to the $21 billion Meta contract, CoreWeave has secured further AI infrastructure and capacity agreements with Anthropic, Jane Street and others, bringing its total order backlog to about $88 billion (well over KRW 100 trillion). Meanwhile, a U.S. securities class-action lawsuit related to infrastructure delays and disclosure issues is ongoing, and the company’s planned issuance of several billion dollars in corporate and convertible bonds to fund capacity expansion has raised concerns about its financial leverage.

Headquartered in New Jersey, CoreWeave is an AI-focused cloud infrastructure provider that supplies compute resources optimized for training and running large language models via NVIDIA GPU-based data centers to leading Big Tech firms and AI startups. Backed by long-term contracts with major customers such as Microsoft, Meta and OpenAI, and strategic investments from NVIDIA, the company’s growth prospects are strong, but significant capital expenditures, debt obligations and competition from established hyperscalers remain key industry risks.