Google has struck a six-year cloud computing deal with Meta Platforms worth more than $10 billion, a source familiar with the matter told Reuters on Thursday, the search giant's second big agreement recently after one with OpenAI.

Meta Platforms Inc. has agreed to a deal worth at least $10 billion with Alphabet Inc.’s Google for cloud computing services, according to people familiar with the matter, part of the social media giant’s spending spree on artificial intelligence.

Meta is doubling down on Artificial Intelligence (AI), investing billions of dollars to future-proof its platforms. Under Mark Zuckerberg’s leadership, the company is restructuring its AI efforts with the launch of Meta SuperIntelligence Labs.