Cloud infrastructure company CoreWeave has entered into an agreement with AI chipmaker Nvidia, involving an initial order valued at $6.3bn.

This arrangement ensures that Nvidia will acquire any unsold cloud computing capacity from CoreWeave. The agreement was executed through a new order form under the existing master services agreement (MSA), initially established in April 2023.

Under the terms of the contract, Nvidia is obligated to purchase any unused data centre capacity from CoreWeave until 13 April 2032, contingent upon meeting delivery and service availability standards.

This provision allows CoreWeave to maintain operational efficiency even in instances of underutilised capacity.

CoreWeave’s AI data centres in the US and Europe offer access to Nvidia graphics processing units, which are integral for managing sophisticated AI models.

The amendment to the MSA is deemed material by CoreWeave under US Securities and Exchange Commission (SEC) regulations due to its financial impact and significance within its operational framework.

The agreement includes provisions for termination by either party following a breach with 30 days’ notice or in the event of insolvency filing.

Beyond this transaction, CoreWeave in July announced plans to invest more than $6bn in a new data centre located in Pennsylvania, US.

The facility will incorporate infrastructure aimed at supporting AI workloads and can expand from an initial capacity of 100MW to 300MW. It is expected to enhance the region’s role in the global AI sector.

Additionally, in March 2025, CoreWeave announced an agreement with OpenAI valued at up to $11.9bn. This deal intends to enhance OpenAI’s computational resources for training and deploying models on a broad scale.

As part of this collaboration, OpenAI will also invest $350m in CoreWeave stock.

This July, CoreWeave signed an all-stock deal worth around $9bn to acquire Core Scientific in a move to boost its data centre footprint.