CoreWeave Stock Surges on $6.3B Nvidia Deal
- Sara Montes de Oca
- Sep 15
- 1 min read
CoreWeave’s stock jumped Monday after the AI cloud infrastructure company revealed a massive order from Nvidia worth at least $6.3 billion.
The disclosure, made in a regulatory filing, outlined that Nvidia will be obligated to purchase CoreWeave’s residual unsold GPU capacity through April 2032. A copy of the agreement will be released with the company’s third-quarter financial results.
A CoreWeave spokesperson described the deal as “reflecting the scale, trust, and pivotal role CoreWeave plays in accelerating AI innovation worldwide.”
The announcement marks another milestone for CoreWeave, which went public in March at $40 a share. Since then, the stock has more than tripled, pushing the company’s market value above $58 billion.
Nvidia is not only CoreWeave’s largest supplier but also one of its biggest backers, holding about 7% of its Class A shares as of June 30. CoreWeave has built its business on renting out Nvidia GPUs to power AI workloads for clients ranging from cloud providers to research labs.
Earlier this year, the company secured an $11.9 billion, five-year contract with OpenAI—adding to its growing list of heavyweight customers. Microsoft and Google have also tapped CoreWeave for additional GPU capacity as demand for AI computing soars.
CoreWeave’s growth trajectory has been staggering. In August, it reported $1.21 billion in second-quarter revenue, up 207% year over year. Still, the company remains unprofitable, posting a $290.5 million net loss for the period.
Despite those losses, Monday’s Nvidia order reinforces CoreWeave’s position as a critical player in the AI arms race, ensuring GPU capacity at a time when supply remains tight.
