Nvidia Increases Investment in CoreWeave
Nvidia (NASDAQ: NVDA) has increased its stake in CoreWeave (NASDAQ: CRWV) by 95% in the first quarter of 2023, raising its holding to over 47 million shares valued at approximately $3.6 billion. This move positions CoreWeave as Nvidia’s second-largest investment after Intel, reflecting confidence in the company’s potential within the booming AI market.
CoreWeave has reported strong growth, with first-quarter bookings exceeding $40 billion and a contracted revenue backlog nearing $100 billion. Nvidia’s commitment to purchase any excess capacity from CoreWeave through 2032 further underscores its strategic partnership. This underscores the significant role of AI technologies across multiple sectors, supported by Nvidia’s extensive $18 billion investment in companies within the AI landscape.
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