CoreWeave: The AI Deal Record

CoreWeave (Provider) · Various AI developers (Buyer)

Value

$104B

Capacity / term

n/a

First revenue

not disclosed

Sources

[1] primary[2] other

SNAPSHOT ROW, excluded from summed aggregates: CoreWeave's quarter-end (June 30, 2026) revenue backlog reached $104B (+246% YoY) at Q2 2026 results, built up substantially from named deals already on the ledger (Meta's $21B expansion, the Anthropic agreement, Jane Street's $6B commitment). The release additionally disclosed more than $25B of net-new customer commitments signed in early Q3 2026, unattributed to any named counterparty, bringing a pro-forma total to roughly $129B; that increment is not a discrete, sourceable deal and is not reflected in this row's amount_usd.

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CoreWeave (Provider) · Jane Street (Buyer)

Value

approximately $6B

Capacity / term

n/a

First revenue

not disclosed

Sources

[1] primary[2] primary[3] other

Missing-deal gap found while sourcing this week's coreweave-backlog-2026-08 snapshot row: this April 2026 agreement was never entered even though it is well corroborated (CoreWeave's own site plus the SEC exhibit) and comfortably clears the ledger's threshold. Same pattern as the TeraWulf, Galaxy-CoreWeave and Digi Power X-Cerebras gaps found in recent runs.

Conditions: Jane Street's commitment to use CoreWeave's AI cloud platform across multiple facilities, including Nvidia Vera Rubin-generation compute, for machine-learning research and trading infrastructure. Announced the same day as Jane Street's separate $1B equity investment in CoreWeave (jane-street-coreweave-equity-2026-04).

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Jane Street (Financier) · CoreWeave (Buyer)

Value

$1B

Capacity / term

n/a

First revenue

not disclosed

Sources

[1] primary[2] primary

Companion equity row to jane-street-coreweave-cloud-2026-04, split out per the ledger's convention for combined commercial-plus-investment announcements (see the Amazon-Anthropic and Microsoft/Nvidia-Anthropic rows for the same pattern).

Conditions: Jane Street purchased CoreWeave Class A common stock at $109.00/share, announced alongside its $6B AI cloud commitment (jane-street-coreweave-cloud-2026-04). Circular: the customer is also taking an equity stake in its own compute provider.

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CoreWeave (Provider) · Meta (Buyer)

Value

approximately $21B

Capacity / term

n/a

First revenue

not disclosed

Sources

[1] tier-1[2] other

Meta committed approximately $21B of additional spend with CoreWeave in April 2026, exercising the expansion-through-2032 option in the September 2025 agreement and taking the disclosed Meta-CoreWeave total to roughly $35B. Counted separately from the parent row; the $35B cumulative figure is never stored.

CoreWeave (Provider) · Meta (Buyer)

Value

up to $14.2B

Capacity / term

n/a · 6y

First revenue

not disclosed

Sources

[1] tier-1[2] other[3] other

CoreWeave to supply Meta with up to $14.2B of AI computing capacity through December 2031, including access to Nvidia GB300 systems, per CoreWeave's SEC filing and same-day coverage. Announced days after the September OpenAI expansion, establishing Meta as CoreWeave's second anchor customer. Term shown as 6 years (2025 signing through December 2031).

Conditions: Runs through December 2031 per CoreWeave's SEC disclosure, which also gave Meta the option to materially expand its commitment through 2032; that option was exercised in April 2026 (see meta-coreweave-expansion-2026-04).

CoreWeave (Provider) · OpenAI (Buyer)

Value

up to $6.5B

Capacity / term

n/a

First revenue

not disclosed

Sources

[1] primary[2] tier-1

Expansion of the March 2025 agreement by up to $6.5B, taking the cumulative CoreWeave-OpenAI contract value to roughly $22.4B per CoreWeave (a figure that includes a reported May 2025 expansion of up to $4B still sitting in the candidate queue). Circular flag inherited from the parent agreement's cross-shareholding.

CoreWeave (Provider) · OpenAI (Buyer)

Value

up to $4B

Capacity / term

n/a

First revenue

not disclosed

Sources

[1] tier-1[2] other

The middle link of the CoreWeave-OpenAI chain: up to $4B of additional capacity through 2029, disclosed at Q1 2025 earnings, between the March initial agreement (up to $11.9B) and the September expansion (up to $6.5B). Promoted from the candidate queue on 2026-08-03 once the Bloomberg capture pinned the date. Circular flag inherited from the parent agreement's cross-shareholding.

Conditions: OpenAI pays through 2029. Disclosed on CoreWeave's Q1 2025 earnings call as an unnamed 'enterprise AI company'; the counterparty was identified as OpenAI in the regulatory filing the following day.

Galaxy Digital (Provider) · CoreWeave (Buyer)

Value

at least $15B

Capacity / term

526 MW · 15y

$1.90M per MW-year

First revenue

2026-04

Sources

[1] primary[2] tier-1

Phase I (133 MW) has been delivering revenue since rent commencement in Q2 2026. Phase II (260 MW) is expected to deliver in H1 2027, financed in part by a $3.507B senior secured note offering (Helios subsidiary, priced ~2026-07-22, 9.875% coupon due 2031); that financing is a capital-raise, not a separate compute deal, and is not its own ledger row. Total approved campus power is 1.63 GW with potential to scale to 3.6 GW; only the 526 MW CoreWeave has contracted for is counted here. Surfaced this run via the EDGAR watchlist hit on Galaxy Digital's Q2 2026 8-K (filed 2026-08-05); the underlying lease predates this run.

Conditions: 15-year base lease plus two five-year extension options. Capacity was committed in three tranches at Galaxy's Helios campus (Dickens County, TX): 133 MW critical IT signed 2025-03-28 (~$4.5B company-stated revenue over the 15-year term), a second 260 MW tranche signed August 2025 on similar terms, and a final 133 MW option CoreWeave later exercised, together totaling the 526 MW critical IT / 800 MW gross power CoreWeave has now committed to. Amount here uses Galaxy's own most recent combined guidance (average annual revenue 'more than $1 billion' across all three tranches, as restated in the July 2026 Phase I completion release) times the 15-year term, rather than summing the individually-announced tranche figures, to avoid double counting; treat $15B as a floor, not the company's headline number.

CoreWeave (Provider) · OpenAI (Buyer)

Value

up to $11.9B

Capacity / term

n/a · 5y

First revenue

not disclosed

Sources

[1] primary[2] tier-1

Initial five-year agreement of up to $11.9B for CoreWeave to deliver AI infrastructure to OpenAI, signed just ahead of CoreWeave's IPO. Flagged circular: OpenAI simultaneously became a CoreWeave investor via $350M of stock issued as part of the deal. A further expansion of up to $4B was reported in May 2025; it sits in the candidate queue until a primary source with an exact date is captured.