Meta plans to spend $14.2 billion on cloud services from CoreWeave through to December 14, 2031.

The social media giant joins Microsoft, Nvidia, and OpenAI as customers of the neocloud.

“The agreement underscores that behind every AI breakthrough are the partnerships that make it possible,” CoreWeave said in a statement.

Earlier this week, CoreWeave expanded its agreement with OpenAI by $6.5 billion, bringing the total contract to $22.4bn. Last month, Nvidia announced it would purchase any of CoreWeave's unsold compute capacity through to 2032 for $6.3bn.

Meta has sought to expand its client pool after it faced criticism during its March initial public offering for its customer concentration. As of June, some 71 percent of its revenue came from Microsoft.

At the same time, Meta has looked to expand its own compute infrastructure and cloud footprint.

Meta has long built its own data center infrastructure, and is currently developing a 1GW data center campus, followed by an enormous 5GW site. The company forecasts 2025 capex at between $66bn and $72bn and expects this to ramp up "significantly" in 2026.

But the company has also been a significant wholesale leaser, as well as a cloud customer.

In 2021, Meta said that it would expand its partnership with Amazon Web Services to use the platform for acquisitions as well as AI R&D.

This August, the company reportedly signed a $10bn deal with Google Cloud, covering a six-year period. It is currently in talks with Oracle over a $20bn cloud deal.