Overview

• In a Sept. 9 amendment disclosed in an SEC filing, CoreWeave detailed an initial $6.3 billion order under which Nvidia must purchase any residual unsold capacity through April 13, 2032, with the full contract to be released alongside third-quarter results.
• CoreWeave shares rose roughly 5% to 8% on Monday after the disclosure, and Deutsche Bank added the stock to its Catalyst Call Buy Idea list.
• Barclays described the arrangement as a capacity backstop for CoreWeave and viewed Nvidia’s spending as a diversification away from its largest customers.
• Nvidia both supplies GPUs to CoreWeave and holds an equity stake, underscoring tight commercial alignment between the companies.
• CoreWeave remains unprofitable despite rapid growth and large deals including a five-year $11.9 billion OpenAI contract plus up to $4 billion more, as short seller Kerrisdale Capital challenged the business model and asserted a $10 fair value.