Mentioned:
CRWV -7.06% NVDA -6.20%
One of the most important companies on Wall Street is making a massive new commitment to artificial intelligence. And they are partnering up with CoreWeave to do it.
What’s happening:
- CoreWeave (NASDAQ: CRWV) has landed a new $6B USD deal with legendary Wall Street quantitative proprietary trading company Jane Street for artificial intelligence workloads
Why it matters:
- Jane Street has publicly stated they plan to leverage their partnership with CoreWeave to deepen their bet on using artificial intelligence for training large amounts of data on global financial markets and developing new types of trading strategies
Going deeper:
- CoreWeave will provide Jane Street with access to Nvidia’s (NASDAQ: NVDA) newest Vera Rubin architecture across multiple data centres and leading edge software for training new artificial intelligence models
- CoreWeave just recently made major waves on Wall Street when they struck a deal with Anthropic to provide access to their GPUs and data centres in a new multi year deal
The intrigue:
- Jane Street is also investing $1B USD into CoreWeave through an equity financing at $109.00 USD per share as part of their new deal
