Meta Platforms Is Dragging Down Coreweave Stock. Here's Why.

CoreWeave (CRWV) stock closed meaningfully lower on July 1 following a Bloomberg report that Meta Platforms (META) is building a cloud infrastructure business to sell its excess artificial intelligence (AI) computing capacity to third-party customers.

Meta shares surged nearly 9% on the same news, as investors reframed the company’s massive capital expenditure program — guided at $125 billion to $145 billion for 2026 — as a potential new revenue stream rather than a pure cost center.