Woofun AI reports that Meta has executed contracts exceeding $48 billion with Neocloud providers CoreWeave and Nebius. These agreements are primarily structured as take-or-pay deals, addressing immediate computing power constraints after hyperscalers like Google reduced allocations in March due to internal resource consumption. The analyst notes that Meta only sells computing power when excess capacity exists, which is currently not the case. Consequently, capital expenditure guidance is expected to increase as the company builds independent infrastructure.