Partner firm gets $2-billion investment from Nvidia

With CoreWeave deal, AI giant aims to get more computing capacity online faster.

- BY DINA BASS AND IAN KING

Nvidia Corp., the dominant maker of artificial intelligence chips, invested an additional $2 billion in CoreWeave Inc. to help speed up an effort to add more than 5 gigawatts of AI computing capacity by 2030.

Nvidia purchased CoreWeave Class A common stock at $87.20 a share, the companies said Monday. As part of the collaboration, CoreWeave will be among the first to deploy forthcoming Nvidia products, including storage systems and a new central processing unit, or CPU. Nvidia, already a CoreWeave investor, previously agreed to buy more than $6 billion in services from the firm through 2032.

"The investment is confidence in their growth and confidence in CoreWeave's management and confidence in their business model," Nvidia Chief Executive Jensen Huang said in an interview. But the partnership itself is more focused on aligning the companies' engineering work and getting computing capacity online, he said.

The deal is just the latest example of Nvidia using its enormous resources to propel the broader artificial intelligence industry. The world's most valuable company has pledged tens of billions of dollars toward AI companies, bankrolling the deployment of new infrastructure built with its products.

The announcement also puts a spotlight on a new business avenue for Nvidia. The CPU, which carries the Vera brand, marks the first time the company has offered such a chip on a standalone basis.