Up to approximately
$21 billionIncludes both new capacity and an exercised existing option.
Inspect the filings ↓PWORKS / Relationship study 002
New capacity. An exercised option.
Meta × CoreWeave. What the initial commitment includes—and what remains unallocated.
RESEARCH SNAPSHOTIssuer reports · March–August 2026
One relationship / AI cloud capacity
Order form · March 2026Initial commitment, including new capacity and an exercised existing option. The arrow shows capacity direction, not payments or delivered capacity.
01 / Read the claims
One commitment includes two components.
The May 7 and August 11 quarterly filings describe the March order form under an existing master services agreement. Green marks a source-match check of that wording.
Two capacity end dates
20 Dec 2032 · new computing capacity
10 Apr 2032 · capacity from the exercised existing option
The cited passages do not allocate dollars between these components.
Combined remaining balance
Not establishedNo component split, overlap amount, payment total or delivered-capacity measure is inferred.
02 / Inspect the source
The qualification was already in the filings.
These are publications from the same issuer, not independent corroboration. The signing month remains March 2026; an exact signing day is not established.
First-quarter 2026 report · printed page 51
the exercise of an existing option to access additional computing capacity through April 10, 2032CoreWeave · 2026-05-07Read this issuer publication ↗
Second-quarter 2026 report · printed pages 58 and 15
initially committed to pay us up to approximately $21.0 billionCoreWeave · 2026-08-11Read this issuer publication ↗
2025 annual report · printed page 20
initially committed to pay us up to approximately $14.2 billion through December 2031CoreWeave · 2026-03-02Read this issuer publication ↗
Why company-wide figures cannot fill this gap
The second-quarter revenue note reports company-wide remaining performance obligations and anonymized customer concentrations. It does not identify a Meta-specific remaining balance. We do not assign an anonymous customer row to Meta or use aggregate backlog as Meta’s payments or delivery.
Read the revenue note: printed page 15 ↗03 / Follow the change
A correction to the interpretation.
A new commitment. An open total.
Three announcements supported a later commitment described as new. The review left the interaction with earlier options unresolved.
2026-10-04 / Updated treatment
Existing option included.
Remaining balance unresolved.
The first review used three issuer announcements and left options unresolved. The quarterly filings already described an exercised existing option within the later commitment. This review corrects the interpretation; it does not announce a new agreement or establish a remaining balance.
Inspect the monitor’s field review ↗Sources used in the earlier review
Third-quarter 2025 results
Entered into an up to approximately $14.2 billion multi-year deal with MetaCoreWeave · 2025-11-10Read this issuer publication ↗
Expanded AI infrastructure agreement
to provide AI cloud capacity through December 2032 for approximately $21 billion.CoreWeave · 2026-04-09Read this issuer publication ↗
First-quarter 2026 results
Executed multiple new agreements with Meta, including a new $21 billion commitment signed in MarchCoreWeave · 2026-05-07Read this issuer publication ↗
The April and May announcements describe the same analytically grouped later commitment. The newer review refines its composition; repeated coverage is not counted again.
04 / Keep the graphic
Same research. A graphic you can keep.
The graphic carries these same claims, dates and qualifications. Return to this story for later reviews and corrections.
Keep the qualified commitment.
The updated landscape and portrait carry the initial ceiling, included option, distinct capacity dates and unresolved balance. The landscape also accompanies this story’s shared link.
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Link and image description
https://lordsofai.com/research/meta-coreweave
Meta × CoreWeave. The initial commitment of up to approximately $21 billion includes new capacity through 20 December 2032 and an exercised existing option through 10 April 2032. Component amounts and the combined remaining balance are unresolved. Issuer filings: 7 May and 11 August 2026. Reviewed 2026-10-04.
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Earlier graphics / retained history
Original dated publications retained with their earlier interpretation. They are superseded by the qualified review above.
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https://lordsofai.com/research/meta-coreweave
Meta × CoreWeave: earlier agreement: Up to ≈$14.2B; later commitment: ≈$21B. Combined exposure unresolved. Dated issuer statements; not actual spending or delivered capacity. Reviewed 2026-10-04.
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