Coreweave stock gains 9% on fresh $2 billion Nvidia investment

Core Investment and Market Reaction - Coreweave (CRWV) shares increased by 9% in pre-market trading following Nvidia's (NVDA) $2 billion investment aimed at enhancing Coreweave's development of next-generation data centers for AI workloads [1] - The investment was made through the purchase of CoreWeave's Class A stock at $87.20 per share, facilitating the company's goal to scale up to over 5 gigawatts of AI-dedicated data centers by the end of the decade [1] Stock Performance - CRWV closed at $92.98 on Friday, and with the pre-market gain, the stock is now trading just above $101 [2] - Nvidia's shares experienced a slight decline of 0.5% in pre-market trading [2] Strategic Collaboration - Nvidia's investment not only provides financial support but also strengthens a long-term collaboration between the two companies, aligning their hardware, software, and data center strategies [2] - The partnership includes testing CoreWeave's software stack, particularly its resource scheduling platform Mission Control, for potential integration into Nvidia's broader ecosystem [2] Company Background - CoreWeave, originally established as a bitcoin mining company in 2017 under the name Atlantic Crypto, shifted its focus to cloud computing and AI following the cryptocurrency market crash in 2018 [3] - Nvidia previously entered into a $6.3 billion agreement with CoreWeave in September to purchase unsold computing capacity through 2032 [3] Industry Recognition - CoreWeave's expertise in AI factory development, platform software, and execution speed has been acknowledged across the industry, as stated by Jensen Huang, Nvidia's founder and CEO [3]