Coreave shares jump on the unveiling of $ 6.3 billion from NVIDIA

Coruv The shares jumped up to 8 % on Monday after the cloud infrastructure provider of the burdens of artificial intelligence work to reveal a request of at least $ 6.3 billion from Nafidia.

Under the terms of the arrangement, NVIDIA is “obligated to purchase the remaining capacity” until April 2032. presentation. The company said it plans to include a copy of the full agreement in addition to its financial results in the third quarter.

Coreave is actually spending heavily on hundreds of thousands of NVIDIA graphics processing units, which you reimbar to customers. The company that Open In March, it is Backed By NVIDIA, the owner of about 7 % of Coreweave shares of Class A from June 30.

Mike Inrazer, CEO of Coreweave, said in March interview It is even “not strange” about communicating with the CEO of Nvidia Jensen Huang.

In the public subscription bulletin, Coreweave warned that it relies on a limited number of suppliers, and all graphics processing units in their infrastructure at that time came from NVIDIA. Cloud service providers Amazonand Googleand Microsoft and Oracle It also depends on NVIDIA chips to help them meet the demand for artificial intelligence. Google and Microsoft turned into Coreave for an additional capacity.

In August, Corif was $ 1.21 billion in Revenue in the second quarterAn increase of 207 % on an annual basis. The company continued to lose money, as a net loss of $ 290.5 million in this period recorded.

Although Coreave depends largely on NVIDIA chips for its business, the company has other senior customers when it comes to the capacity account. Earlier this year, Kuruv got a contract with Openai 11.9 billion dollars More than five years.

With a rally on Monday, Coreweave shares have multiplied three times since the public subscription, and now value is now more than $ 58 billion.

He watches: Coreve CEO: Companies who build artificial intelligence cannot get enough