""Demand for AI continues to grow exponentially and the need for compute has never been greater, the companies said in a joint statement. "AI is entering its next frontier and driving the largest infrastructure buildout in human history," Jensen Huang, founder and CEO of Nvidia added. "CoreWeave's deep AI factory expertise, platform software, and unmatched execution velocity are recognized across the industry. Together, we're racing to meet extraordinary demand for NVIDIA AI factories-the foundation of the AI industrial revolution.""
""According to a release from Nvidia, the chipmaker bought CoreWeave Class A common stock at $87.20 a share, which "reflects it's confidence in CoreWeave's business, team and growth strategy as a cloud platform built on NVIDIA infrastructure.""
""The deal does two things: It gives CoreWeave "early access" to Nvidia's new central processing unit (CPU) and other products; and pits Nvidia up against Intel and Advanced Micro Devices as direct competitors, according to a report from LinkedIn News.""
Nvidia invested an additional $2 billion in CoreWeave, adding to a prior $3.3 billion, to accelerate construction of more than five gigawatts of AI factories by 2030. CoreWeave operates a cloud computing platform focused on artificial intelligence. Nvidia purchased CoreWeave Class A stock at $87.20 per share, signaling confidence in CoreWeave's business, team, and growth strategy on NVIDIA infrastructure. CoreWeave shares rose more than 9% in midday trading after the announcement. AI demand and compute needs are described as growing exponentially, driving a major infrastructure buildout. The deal grants CoreWeave early access to Nvidia CPUs and positions Nvidia as a competitor to Intel and AMD.
Read at Fast Company
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