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Nvidia has invested an additional $2bn in CoreWeave, a cloud computing firm, to speed up an effort to add more than 5GW of AI computing capacity by 2030. The move comes after Nvidia had previously agreed to buy more than $6bn in services from the firm through 2032. As part of the collaboration, CoreWeave will be among the first to deploy forthcoming Nvidia products, including storage systems and a new central processing unit, called Vera. The investment has sparked concerns about circular financing deals that have lifted valuations of AI companies and fueled concerns about a bubble, but Nvidia’s CEO Jensen Huang said that the investments represent confidence in the growth and business model of the company.
CoreWeave’s 9.25% 2030s traded at 98.1 cents on the dollar, yielding 9.8%.
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