CoreWeave Secures Major Investment from Nvidia
Shares of CoreWeave (NASDAQ: CRWV) surged over 5% on October 16, 2023, following a significant investment from Nvidia (NASDAQ: NVDA). The investment includes the purchase of a $2 billion stake at $87.20 per share, a 6% discount from CoreWeave’s previous closing price.
CoreWeave plans to utilize these funds to develop 5 gigawatts of AI factories by 2030, responding to the increasing demand for accelerated computing services. Nvidia’s CEO Jensen Huang emphasized the collaboration’s potential to drive substantial advancements in AI infrastructure.
