CoreWeave Says Nvidia Cloud Contract Valued at $6.3 Billion (1)

CoreWeave Inc. said its shareholder Nvidia Corp. has agreed to buy cloud services valued at $6.3 billion, part of that company’s push to speed up the adoption of artificial intelligence across the economy.

The deal, first announced in April 2023, runs through 2032 and requires Nvidia to buy any excess capacity not used by its customers, CoreWeave said in a regulatory filing on Monday. Nvidia said the agreement guarantees AI computing capacity will be in place when needed.

“Industrywide demand for AI infrastructure continues to grow, yet building large-scale data-center capacity typically requires long lead times and four- to six-year ...