US-based quantitative trading firm Jane Street has agreed to spend roughly $6bn to use CoreWeave’s AI cloud platform.
As part of the newly expanded partnership, CoreWeave will supply Jane Street with advanced computing infrastructure across several data centre locations, incorporating Nvidia’s Vera Rubin technology.
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The agreement includes access to the necessary software and support services required for deploying and expanding Jane Street’s machine learning operations.
In addition to the cloud services deal, Jane Street has purchased $1bn worth of CoreWeave Class A common shares at a price of $109 per share. This equity investment forms part of an expanded business relationship between the two companies, which have worked together previously.
Jane Street aims to continue utilising machine learning across its trading and research functions.
Jane Street said: “We are deeply committed to investing in cutting-edge technologies that support our research in global financial markets, training large, complex models on massive volumes of noisy data, refining them continuously, and deploying at a scale to help make markets more efficient.
“Access to CoreWeave’s leading AI cloud platform enables our researchers to move at the pace our competitive business demands.”
CoreWeave is providing Jane Street with performance computing resources, a software layer designed to optimise operations, and technical support tailored to the latter’s research requirements.
The infrastructure features dedicated network connectivity and customised data storage options.
The new arrangements are intended to accommodate Jane Street’s ongoing efforts to scale its machine learning capabilities.
Jane Street stated that CoreWeave was chosen for its combination of high-performance computing and integrated software, which allow systems to perform efficiently and reliably in practical settings. The company further said that CoreWeave Cloud is configured to meet the specific needs of its research operations, providing dedicated connectivity, customised storage options, and technical support.
CoreWeave revenue senior vice president Max Hjelm said: “Jane Street operates like a frontier lab, continually breaking new ground in deep learning and pushing the scale and complexity of their models.
“CoreWeave was built for this purpose and we’re excited to expand our collaboration with Jane Street.”
Recently, Meta entered into an agreement with CoreWeave valued at around $21bn, granting access to AI cloud resources through December 2032.
