CoreWeave Plunges 13.9% to $85.69 on Meta Compute Fears

On July 1, 2026, CoreWeave shares tumbled 13.92% to $85.69 after Bloomberg reported Meta is building an internal cloud unit called Meta Compute. The sell-off reflected investor concerns that the major customer could reduce reliance on external AI providers and increase competition. Earlier reports noted CoreWeave’s $21 billion take-or-pay contract through 2032 and $99.4 billion backlog as key buffers against near-term demand risk. Broader AI-infrastructure names also fell, with Nebius Group down 17.01% and Super Micro Computer declining 5.73%, while the Nasdaq and S&P 500 eased 0.66% and 0.22%. Wall Street maintained its Overweight rating, viewing the move as sentiment-driven.