Meta's latest artificial intelligence (AI) capacity commitment lights a fire under CoreWeave shares, but expectations are sky-high. Shares of CoreWeave (CRWV 11.53%) jumped after the company filed an 8-K detailing a fresh order with Meta Platforms. Importantly, this Meta news comes just days after CoreWeave and OpenAI expanded their own agreement by up to $6.5 billion. Taken together, the two back-to-back announcements highlight how CoreWeave is steadily locking in multibillion-dollar, multiyear partnerships with the most important AI developers. Valuation and the long viewThe business clearly has momentum -- and today's Meta order strengthens the backlog and diversifies demand.