CoreWeave gets $2B Nvidia backing

CoreWeave is pairing a huge Nvidia equity check with an even bigger spending plan to expand its artificial-intelligence cloud business. (investors.coreweave.com) (sec.gov) On January 23, 2026, CoreWeave sold 22,935,780 Class A shares to Nvidia in a private placement at $87.20 each, raising $2 billion in cash. (sec.gov) Three days later, the companies said they had expanded their relationship to help CoreWeave build more than 5 gigawatts of AI factories by 2030. They said Nvidia would support procurement of land, power and shell capacity, and CoreWeave would deploy multiple Nvidia hardware generations, including Rubin, Vera central processing units and BlueField storage systems. (investors.coreweave.com) (nvidianews.nvidia.com) CoreWeave’s latest reported quarter showed why it wants the capacity. The company said fourth-quarter 2025 revenue rose to $1.572 billion from $747 million a year earlier, while revenue backlog reached $66.8 billion at December 31, 2025. (investors.coreweave.com) The same report showed the cost of that expansion. CoreWeave posted a fourth-quarter net loss of $452 million, interest expense of $388 million, and full-year net loss of $1.167 billion. (investors.coreweave.com) For 2026, CoreWeave told investors to expect $12 billion to $13 billion in revenue and $30 billion to $35 billion in capital expenditures. CNBC reported the first-quarter revenue outlook also came in below analysts’ consensus estimates, and the stock fell after the results. (investors.coreweave.com) (cnbc.com) That mix — contracted demand, heavy borrowing costs and giant upfront spending — is the basic neocloud model. Companies like CoreWeave buy or lease large amounts of graphics-processing capacity, then rent it to artificial-intelligence developers that need computing power fast. (investors.coreweave.com 1) (investors.coreweave.com 2) Insider filings added another data point in April. A Form 4 filed on April 23 showed Chief Executive Michael Intrator sold shares on April 21 under a Rule 10b5-1 trading plan. (sec.gov) Separate Form 4 filings show Magnetar entities sold CoreWeave shares on April 15, April 16 and April 22 at prices mostly between about $117 and $124 a share. Those filings also show the funds still held large indirect positions after the sales. (sec.gov 1) (sec.gov 2) (sec.gov 3) CoreWeave says nearly all of its 2026 capital spending is tied to already contracted customer demand. Investors are still left tracking the same two variables: whether financing stays available and whether new capacity fills fast enough to cover the bill. (finance.yahoo.com) (investors.coreweave.com)