Nvidia Strikes $6.3B Cloud Deal, Sending CoreWeave Shares Up 5%

CoreWeave Shares Jump 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 unused server capacity, according to a filing with the SEC.

The agreement requires Nvidia to purchase any unbooked computing resources from CoreWeave through April 2032, ensuring the company’s extensive data center fleet remains utilized. Either side can exit the deal if terms are breached or bankruptcy occurs.

For CoreWeave, the pact provides revenue stability as it expands infrastructure. Nvidia, meanwhile, gains guaranteed access to additional GPU-based cloud resources at a time when demand for AI training far outpaces supply. The arrangement also tightens ties between the firms: Nvidia not only provides CoreWeave with GPUs but also owns 24.3 million of its shares, worth about $3.96 billion at the end of Q2.

Founded in 2017, CoreWeave specializes in renting Nvidia GPUs for AI workloads. The company went public in March in the largest U.S. venture-backed IPO since 2021. After an initial fivefold rally, shares halved over the summer but have since rebounded 35% since Labor Day.

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