CoreWeave (NASDAQ:CRWV) and global trading firm Jane Street announced a multi-year agreement under which Jane Street will commit approximately $6 billion to CoreWeave’s AI cloud infrastructure, alongside a separate $1 billion equity investment in the company.
The expanded partnership will give Jane Street access to CoreWeave’s high-performance computing resources across multiple data center facilities, including systems built around next-generation NVIDIA technology.
The infrastructure is intended to support large-scale machine learning workloads used in trading research and other quantitative applications.
According to the companies, the agreement extends an existing relationship and is designed to scale Jane Street’s use of machine learning models across its global markets operations.
CoreWeave will provide dedicated compute capacity, software tooling, and technical support tailored to Jane Street’s research requirements, including specialized storage and connectivity configurations.
“Jane Street operates like a frontier lab, continually breaking new ground in deep learning and pushing the scale and complexity of their models,” said Max Hjelm, Senior Vice President of Revenue at CoreWeave.
“CoreWeave was built for this purpose and we’re excited to expand our collaboration with Jane Street.”
Jane Street said the investment reflects its continued focus on applying machine learning to financial markets. The firm described its research approach as training large models on extensive datasets and deploying them at scale to improve market efficiency.
Jane Street has purchased CoreWeave Class A common stock at $109 per share as part of the equity investment.
Shares of CoreWeave were little changed on the announcement, trading hands at $116.