"Jane Street committed approximately $6 billion to use CoreWeave's AI cloud platform and invested another $1 billion in equity by purchasing CoreWeave Class A stock at $109 per share. The deal expands an existing relationship and gives Jane Street access to next-generation compute across multiple facilities, including Nvidia's Vera Rubin technology, plus the software and services required to deploy and scale its AI solutions."
"For CoreWeave, the equity stake adds cash while the cloud commitment locks in long-term revenue. Shares of CoreWeave traded near $117 in early trading following the news."
"This marks the third major win for CoreWeave in April alone. On April 9, Meta Platforms expanded its agreement to $21 billion through December 2032, bringing its total commitments with CoreWeave to roughly $35 billion."
Tech giants are set to invest over $630 billion in AI infrastructure this year, but demand for specialized GPU clusters remains high. CoreWeave has emerged as a leading platform for AI workloads, securing significant commitments from major firms. Jane Street has committed $6 billion to use CoreWeave's AI cloud platform and invested an additional $1 billion in equity. This follows other major deals, including a $21 billion expansion with Meta Platforms, highlighting CoreWeave's growing importance in the AI landscape.
Read at 24/7 Wall St.
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