CoreWeave lands $6B deal
CoreWeave signed a $6 billion AI cloud deal with Jane Street and the trading firm also increased its stake in the company, according to reporting today. (reuters.com). Investor coverage referenced a very large revenue backlog tied to multi-year commitments for specialised AI capacity. (fool.com)
CoreWeave said on April 15 that Jane Street will spend about $6 billion on its artificial intelligence cloud and buy $1 billion of stock. (coreweave.com) The companies said the new agreement expands an existing relationship, and Jane Street bought CoreWeave Class A shares at $109 each. CoreWeave said it will supply computing capacity across multiple facilities, including systems built on Nvidia’s Vera Rubin technology. (coreweave.com) Jane Street said it uses machine learning in global financial markets, where firms train models on large volumes of market data and run them fast enough to support trading. CoreWeave said its service for Jane Street includes dedicated connectivity, custom storage, and technical support. (coreweave.com) Reuters reported the Jane Street contract is CoreWeave’s third multibillion-dollar deal in a week, a run that points to continued demand for rented artificial intelligence computing capacity. Reuters also reported that Jane Street increased its stake as part of the transaction. (reuters.com) CoreWeave has been telling investors that these contracts pile up into a revenue backlog, which is the value of work it expects to deliver under signed commitments over future years. In its fourth-quarter 2025 materials, the company said backlog includes remaining performance obligations and other amounts expected from committed customer contracts, subject to delivery and service availability. (s205.q4cdn.com) The Motley Fool said on April 15 that CoreWeave’s backlog had reached about $88 billion after recent deals. That figure is investor commentary, not a new company filing, but it shows how Wall Street is sizing up the company’s multiyear contract book. (fool.com) CoreWeave said it was founded in 2017 and listed on Nasdaq in March 2025. Jane Street said it has more than 3,500 employees across New York, London, Hong Kong, Singapore, and Amsterdam. (investors.coreweave.com) The deal leaves CoreWeave with another large customer locked into multiyear spending, and it gives Jane Street more access to the specialized chips and infrastructure that have become scarce across the artificial intelligence market. (coreweave.com)
