Nvidia invested $2 billion in CoreWeave at $87.20 per share, becoming the neocloud provider’s second-largest shareholder and strengthening an existing relationship that includes Nvidia’s commitment to purchase up to $6.3 billion of CoreWeave’s unused data center capacity through 2032. CoreWeave shares rose between 9% and 12% after the Jan. 26 announcement, while Nvidia gained less than 1%. The partnership includes early access to Nvidia’s Rubin architecture, Vera CPUs and BlueField storage systems, along with cooperation on land and power procurement and marketing CoreWeave’s software. The companies are targeting more than 5 gigawatts of AI data center capacity by 2030. CoreWeave reported second-quarter 2026 revenue of $2.58 billion, up 112% year over year, and a $104 billion backlog, with OpenAI, Meta Platforms and Microsoft among its contracted customers. The company also reported a $626 million net loss, carried about $33.8 billion in debt and raised its 2026 capital expenditure forecast to $35 billion-$39 billion. Nvidia separately invested $2 billion in Nebius Group, another neocloud provider praised by CEO Jensen Huang, as the sector expands to address shortages of land, power and operational data centers.