CoreWeave Gains After Securing $6.3B Cloud Capacity Deal with Nvidia

CoreWeave Stock Gains on $6.3B Nvidia Capacity Agreement

CoreWeave (CRVW) rose nearly 5% in early U.S. trading Monday after striking a $6.3 billion deal with Nvidia (NVDA) to secure long-term demand for its cloud infrastructure.

Under the agreement, Nvidia will purchase any unused server capacity from CoreWeave through April 2032. The arrangement guarantees CoreWeave revenue stability as it expands data centers, while providing Nvidia with additional GPU resources to support soaring demand for AI training. Either party can withdraw if terms are breached or bankruptcy occurs.

The pact further strengthens the relationship between the two companies. Nvidia, already a supplier of GPUs to CoreWeave, also holds 24.3 million shares valued at nearly $4 billion as of the second quarter.

Founded in 2017, CoreWeave rents access to Nvidia-powered GPUs used in artificial intelligence development. The company went public in March in the largest U.S. venture-backed tech IPO since 2021. After an early fivefold surge, its stock slumped by about half over the summer, before rebounding 35% since Labor Day.