Bloomberg Intelligence CoreWeave Inks $14 Billion Meta Deal, Highlighting AI Demand
Sep 30, 2025
Vincent Piazza, a senior equity research analyst at Bloomberg Intelligence focusing on energy, discusses key changes in the oil sector, including Exxon Mobil's plans to cut 2,000 jobs in a restructuring effort. He highlights the trend of cost management amidst uncertain demand. Meanwhile, the conversation covers CoreWeave's game-changing $14 billion deal with Meta for AI computing power, emphasizing the shift towards leasing infrastructure as a strategic advantage against competitors like Microsoft.
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Neoclouds Let Firms Lease AI Power
- CoreWeave rents GPUs and supplies major AI users so companies can outsource infrastructure instead of building it.
- Anurag Rana says Meta leasing capacity may be small vs total capex but signals a shift to rented AI infrastructure.
Big Contracts Make Debt Easier To Raise
- Long-term, contracted revenue from customers like Meta or Microsoft makes it easier for CoreWeave to raise debt.
- Anurag Rana argues strong customer cash flow reduces financing risk for CoreWeave.
Diversification From One Dominant Customer
- CoreWeave previously relied heavily on Microsoft for revenue and is now diversifying with Meta and others.
- Rana notes other cloud providers will take excess capacity, broadening customers beyond a single large client.