CRWV Stock Soars 10% Pre-Market As Nvidia Invests $2B To Expand AI Factory Network
Synopsis
The partnership aims to accelerate the development of more than 5 gigawatts of AI factories by 2030.
NVIDIA (NVDA) and CoreWeave, Inc. (CRWV) announced on Monday an expansion of their ongoing collaboration to scale artificial intelligence infrastructure globally, with the former purchasing $2 billion worth of the latter’s Class A common stock at $87.20 per share.
The partnership aims to accelerate the development of more than 5 gigawatts of AI factories by 2030.
Scaling AI Infrastructure
CoreWeave will use Nvidia’s high-performance computing platform to design and operate AI factories that address the rapidly growing demand for AI compute power.
Following the announcement, CoreWeave’s stock surged over 10% in Monday’s premarket, while that of Nvidia inched 0.6% lower.
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