Nvidia said on Monday has invested $2 billion in CoreWeave to accelerate the data center company’s efforts to add more than 5 gigawatts of AI computing capacity by 2030.
The chipmaker, already an investors in CoreWeave, said it has bought Class A shares of the company at $ 87.20 per share. As part of the deal, CoreWeave and Nvidia plan to build an “AI factory” (data center) that will use the chipmaker’s products.
CoreWeave will also integrate Nvidia products into the platform, including new Rubin chip architecture (set to replace the current Blackwell architecture), Bluefield storage systems, as well as the chipmaker’s new CPU line, Vera.
The deal is a testament to their support for CoreWeave, which they have already done research over the past few months to raise billions in debt to continue building out its data center operations. The company has debt obligations of $18.81 billion by September 2025, according to PitchBook data, and that reported revenue of $ 1.36 billion in the third quarter.
The company’s CEO Michael Intrator has defended its business model (financing operations by raising debt with GPUs as collateral), and has addressed the concerns of circular offers in the AI industry by saying companies must “work together” to overcome “brutal changes in supply and demand.”
The company has been successfully riding the AI wave since its inception transition from crypto mining companies to data center service providers for AI training and inference. And since its IPO in March of last year, it has been busy rounding out its technology stack with numerous acquisitions. It is acquired Weight & BiasAI developer platform, in March, and then after buying a reinforcement learning startup OpenPipe. In October, it agreed to got Marimo (open-source Jupyter notebook competitor) and Monolithother AI companies. Also recently expanded the cloud partnership with OpenAI.
The company currently counts several hyperscalers as customers, including OpenAI, Meta, and Microsoft.
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As part of the deal, Nvidia will also help CoreWeave buy land and power for data centers, and work with smaller companies to include software and AI architecture in Nvidia’s reference architecture for sale to businesses and cloud companies.
CoreWeave shares rose more than 15% after news of the deal.
As for Nvidia, it’s debatable biggest benefactor and the driver of the AI boom, the latest deal from several dozen investments in the past year as the company is doing its best to continue to accelerate investment in, and development of, new technologies.