Data center operator CoreWeave said Monday it had signed a new order with Nvidia with an initial value of $6.3 billion, in a deal that guarantees that the AI chipmaker will purchase any residual cloud capacity not sold to customers.
Shares of CoreWeave rose 6.9% in early trading following the news.
The latest order, which requires Nvidia to purchase any unsold capacity through April 13, 2032, builds on their existing partnership.
CoreWeave operates AI data centers in the U.S. and Europe, offering access to Nvidia's GPUs, which are highly sought after for training and running large AI models.
Monday's order was formalized under an April 2023 agreement, CoreWeave said.