Jane Street backs CoreWeave compute push

Jane Street said on April 15 it will spend about $6 billion on CoreWeave’s artificial intelligence cloud and buy $1 billion of CoreWeave stock. (businesswire.com) (reuters.com) CoreWeave said the equity purchase was priced at $109 per share of Class A common stock. The companies said the expanded relationship gives Jane Street access to next-generation compute, including Nvidia Vera Rubin technology, across multiple facilities. (businesswire.com) Jane Street is best known as a trading firm, but both companies framed the agreement around machine learning workloads inside Jane Street’s business. Reuters said the pact was CoreWeave’s third major customer deal in about a week. (reuters.com) (businesswire.com) That burst of contracts started on April 9, when CoreWeave and Meta announced an expanded infrastructure agreement worth $21 billion through December 2032. CoreWeave then announced a multi-year Anthropic agreement on April 10 to support the Claude model family. (coreweave.com 1) (coreweave.com 2) The sequence shows what CoreWeave is selling: not generic cloud storage, but reserved access to specialized chips and data-center capacity for training and running large artificial intelligence models. CoreWeave said the Anthropic deal will bring compute online starting later in 2026. (coreweave.com) (reuters.com) CoreWeave has been raising money just as quickly as it has been signing customers. On April 16, the company announced pricing for $1 billion of 9.750% senior notes due 2031, a day after saying it intended to offer the debt. (businesswire.com) (coreweave.com) A separate filing showed Chief Executive Michael Intrator sold about 297,693 shares for roughly $35.8 million on April 21 under a Rule 10b5-1 trading plan, according to market coverage of the disclosure. The reported sale came days after Jane Street’s investment was announced. (tradevae.com) CoreWeave’s April run put a trading house, a social media giant, and one of the biggest artificial intelligence model makers on the same customer list within days. The common thread is scarce compute, and CoreWeave is trying to lock it in before rivals do. (reuters.com) (coreweave.com)