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Core Facts About CoreWeave
Nvidia has committed a $6.3 billion investment in CoreWeave, a company specializing in AI data centers that rents compute capacity to major tech firms. CoreWeave’s backlog reached $55.6 billion, a 271% year-over-year increase, with significant contracts including a $22.4 billion commitment from OpenAI and a $14.2 billion deal with Meta Platforms.
CoreWeave’s share price has surged by 110% since its public debut earlier this year, although it currently trades over 50% below its previous highs. The company carries more than $13 billion in debt to finance its infrastructure, but Nvidia’s investment provides a safeguard against potential revenue shortfalls.
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