CoreWeave and Nvidia Strike $6.3 Billion Cloud Deal

NEW YORK, NY — Data center operator CoreWeave announced on Monday it signed a $6.3 billion agreement with Nvidia. The deal requires Nvidia to purchase any unsold cloud capacity from CoreWeave through April 13, 2032.

This partnership builds on their existing collaboration, as both companies aim to capitalize on the growing demand for AI computing resources. Shares of CoreWeave rose 6.9% in early trading following the news.

CoreWeave operates AI data centers in the United States and Europe, providing access to Nvidia’s highly sought-after GPUs. These GPUs are essential for training and running large AI models.

The latest contract was formalized under terms set in an April 2023 agreement. As the AI market continues to expand, Nvidia has engaged in several large-scale partnerships to secure its position as a leading provider of graphics processing units.

CoreWeave has been rapidly expanding to meet rising demands for GPU-accelerated computing, particularly in artificial intelligence and machine learning sectors.

With Nvidia’s increased focus on cloud computing, this deal is expected to strengthen its capacity to support businesses leveraging AI technologies.