Did Nvidia Just Help Amazon, Microsoft, and Google at CoreWeave's Expense?

Core Insights - Nvidia has strong relationships with major tech companies, including Amazon, Microsoft, and Google, as well as rising stars like CoreWeave [1][2] - Nvidia's DGX Cloud, launched in 2023, was intended for enterprises to access AI supercomputers but is reportedly being used primarily for internal purposes now [4][5] - The company is shifting focus from DGX Cloud to its Lepton GPU rental marketplace, which connects GPU cloud providers with AI developers [6] Market Dynamics - There are concerns that Nvidia's retreat from DGX Cloud could benefit major cloud service providers while harming CoreWeave, but evidence suggests otherwise [7] - CoreWeave has secured a $6.3 billion deal with Nvidia for unused cloud computing capacity through April 2032, indicating a strong partnership [8] - Nvidia's DGX Cloud is reportedly fully utilized and oversubscribed, contradicting claims of a retreat from the market [9] Future Outlook - The AI boom is expected to continue, driving demand for Nvidia's GPUs and benefiting cloud platforms from Amazon, Microsoft, Alphabet, and CoreWeave [10] - Nvidia plans to launch a new class of GPUs, Rubin CPX, in late 2026, which could significantly enhance AI applications [11] - All five companies—Nvidia, Amazon, Microsoft, Alphabet, and CoreWeave—are anticipated to deliver substantial gains over the next decade [12]