CoreWeave (NASDAQ:CRWV) revealed on Monday that it has signed a $6.3 billion initial order with Nvidia Corp (NASDAQ:NVDA, ETR:NVD), in which Nvidia will purchase CoreWeave’s excess cloud computing capacity.
The order, which requires Nvidia to purchase any unsold capacity through April 13, 2032, builds on an April 2023 agreement between the two companies, Reuters reported.
The agreement is expected to cushion CoreWeave against any potential decline in demand for AI computing capacity.
In March, CoreWeave announced a five-year, $11.9 billion deal with OpenAI to provide cloud computing capacity, as well as an additional commitment of up to $4 billion through April 2029.
CoreWeave’s capital expenditures, forecast at between $20 billion and $23 billion this year alone, have sparked concerns among many investors.
Nvidia currently owns a 6.6% equity stake in CoreWeave.
CoreWeave shares gained about 6% to about $119 in midday trading on Monday and have soared around 200% year to date after going public at $40 a share in late March 2025.