Data center operator CoreWeave announced on Monday that it has signed a new order with Nvidia with an initial value of $6.3 billion. The deal guarantees that the AI chipmaker will purchase any residual cloud capacity not sold to customers.
Following the news, CoreWeave’s shares rose 6.9% in early trading.
The latest order, which requires Nvidia to purchase any unsold capacity through April 13, 2032, builds on their existing partnership. CoreWeave operates AI data centers in the U.S. and Europe, offering access to Nvidia’s GPUs, which are highly sought after for training and running large AI models. CoreWeave stated that Monday’s order was formalized under an agreement from April 2023.
