Nvidia has taken a $2 billion equity stake in CoreWeave, buying shares at $87.20 apiece and becoming the neocloud provider's second-largest shareholder. The deal deepens an existing arrangement in which Nvidia already committed to purchasing up to $6.3 billion of CoreWeave's unused data center capacity through 2032, and the two companies are now targeting more than 5 gigawatts of AI data center capacity by 2030.
Nvidia has become CoreWeave's second-largest shareholder after writing a $2 billion check for shares priced at $87.20 each. The purchase builds on a relationship in which Nvidia had already committed to buying up to $6.3 billion of CoreWeave's unused data center capacity through 2032.
CoreWeave stock climbed 9-12% in trading following the January 26 announcement, while Nvidia's own shares saw more modest gains of under 1%.
What the deal covers
The equity stake goes beyond a simple investment. CoreWeave gains early access to Nvidia's latest hardware, including the Rubin architecture, Vera CPUs, and Bluefield storage systems. Nvidia is also stepping in to help CoreWeave with land and power procurement, and will assist in marketing CoreWeave's software solutions to prospective clients.
CoreWeave's growth, and its debt
CoreWeave's Q2 2026 results show revenue of $2.58 billion, up 112% year-over-year, with a backlog of $104 billion. Its client roster includes OpenAI, Meta, and Microsoft, all of which have signed contracts with the company.
Founded in 2017 and led by CEO Michael Intrator, CoreWeave went public in March 2025 in one of the largest US tech IPOs since 2021. However, the company carries a substantial debt burden tied to its data center expansion, having leaned heavily on debt financing to fund the buildout.
Why this matters for Nvidia
Nvidia CEO Jensen Huang has previously emphasized the role of neocloud operators like CoreWeave in alleviating AI infrastructure bottlenecks. Every data center CoreWeave builds is filled with Nvidia hardware, and every gigawatt of new capacity represents billions in potential GPU sales.
The prior $6.3 billion capacity commitment already signaled Nvidia's confidence in CoreWeave's model. This new stake extends that relationship from a customer arrangement toward closer strategic ties between the two companies.
Source: Crypto Briefing
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