Nvidia has invested $2 billion in neocloud provider CoreWeave, purchasing Class A common stock at $87.20 per share and becoming the company's second-largest shareholder. The strategic investment deepens a partnership aimed at building more than 5 gigawatts of AI computing capacity by 2030, positioning CoreWeave at the center of what Jensen Huang called the largest infrastructure buildout in human history.
CoreWeave, which pivoted from cryptocurrency mining to AI cloud infrastructure after the 2018 crypto crash, now operates dedicated GPU data centers leasing computing capacity to major AI companies. The Livingston, New Jersey-based firm went public on Nasdaq in March 2025 and has since locked in contracts worth tens of billions, including a $22.4 billion agreement with OpenAI and a $14.2 billion deal with Meta.
The Strategic Layer The $2 billion investment goes beyond capital infusion. Nvidia and CoreWeave will align on hardware, software, and data center strategy, with CoreWeave gaining early access to deploy Nvidia's Rubin platform, Vera CPUs, and BlueField storage systems. CoreWeave's resource-scheduling platform, Mission Control, is also being evaluated for potential integration into Nvidia's broader ecosystem, which would deepen the two companies' technical interdependence.
CoreWeave CEO Michael Intrator emphasized that the partnership reflects a shared conviction that AI succeeds when software, infrastructure, and operations are designed together rather than assembled from disconnected components. A company spokesperson clarified that investment proceeds will not purchase Nvidia processors directly. Instead, capital will accelerate procurement of land, power, and shell infrastructure, fund research and development, and scale the workforce needed to meet enterprise demand.
Circular Concerns and Market Signal Analysts have noted the circular nature of these arrangements — Nvidia invests in cloud providers that purchase Nvidia's chips and services. Nvidia previously committed to buying more than $6.3 billion in residual unsold capacity from CoreWeave through 2032. However, CoreWeave's expanding customer base and revenue trajectory suggest the underlying demand is genuine rather than artificially constructed.
CoreWeave's stock surged approximately 6% on the announcement. DA Davidson upgraded the stock to Buy and raised its price target to $110, citing strengthening AI compute demand and multiple de-risking catalysts expected in 2026. Jefferies reiterated a Buy rating with a $120 target the following day.
What This Means for the Industry With hyperscaler capital expenditures projected to increase nearly 40% in 2026, neocloud providers like CoreWeave occupy a critical position between chipmakers and the AI companies racing to deploy increasingly powerful models. The Nvidia-CoreWeave relationship has become a template for how AI infrastructure investment operates at scale — deeply interconnected, mutually dependent, and accelerating faster than traditional enterprise procurement cycles allow.
