US Stock Alert | CoreWeave (CRWV.US) Surges Over 5% After Signing $6.3 Billion New Order Agreement with NVIDIA (NVDA.US)

Stock News09-15

CoreWeave, Inc. (CRWV.US) shares climbed higher, rising over 5% to $118.1 as of press time. CoreWeave announced a new order agreement with an initial value of up to $6.3 billion, building upon the agreement signed with NVIDIA (NVDA.US) on April 10, 2023. The agreement is designed to provide reserved cloud computing capacity for CoreWeave customers, with NVIDIA purchasing remaining idle capacity when customers do not fully utilize their data center capabilities. Under the terms of the agreement, NVIDIA commits to purchasing CoreWeave's unused capacity that is not utilized by customers from 2025 through April 13, 2032, provided that CoreWeave meets delivery and service availability conditions. This arrangement not only helps CoreWeave improve capacity utilization rates, but also provides NVIDIA with additional computing power support in the artificial intelligence and high-performance computing sectors.

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