CoreWeave, Hudson River Trading sign multi-billion-dollar cloud deal
CRWV•Deal details and related CoreWeave updates
Here are some more details:
- HRT will run its AI research and model-training workloads on CoreWeave's platform, using racks of Nvidia's NVDA.O most advanced graphics processing units, which provide the computing power needed to train complex models.
- The deal also includes Spectrum-X Ethernet networking, a high-speed data-transmission system built for AI data centers. It is meant to move huge volumes of data between servers with minimal delay, connecting HRT's own computers to CoreWeave's cloud.
- The companies did not reveal the exact value of the deal.
- Nvidia-backed CoreWeave added that the arrangement will give HRT's researchers technical support alongside tools and frameworks meant to let them experiment and scale their work faster.
- In April, rival trading firm Jane Street committed about $6 billion for CoreWeave's cloud services and made a $1 billion equity investment in the company.
- Last week, CoreWeave reported a revenue backlog of $104.2 billion in the second quarter and raised its full-year capital expenditure forecast to between $35 billion and $39 billion.
CoreWeave signs multi-year cloud deal with Hudson River Trading
CoreWeave CRWV.O has signed a multi-billion-dollar agreement spanning several years with Hudson River Trading to supply AI cloud infrastructure for trading research, the companies said on Thursday.
The deal deepens Wall Street's reliance on neocloud firms for AI infrastructure, as quantitative trading firms invest heavily in computing power to build larger and more sophisticated models.
