Nvidia Invests $2 Billion More in CoreWeave, Offers New Chip

Nvidia Corp., the dominant maker of artificial intelligence chips, invested an additional $2 billion in the cloud computing firm and key customer CoreWeave Inc., marking the latest example of the circular financing deals that have lifted valuations of AI companies and fueled concerns about a bubble.

Nvidia purchased CoreWeave Class A common stock at $87.20 a share, the companies said Monday, in a move aimed at speeding up an effort to add more than 5 gigawatts of AI computing capacity by 2030. As part of the collaboration, CoreWeave will be among the first to deploy forthcoming Nvidia products, including storage systems and a new central processing unit, or CPU. Nvidia, already a CoreWeave investor, previously agreed to buy more than $6 billion in services from the firm through 2032.