Nvidia takes $2 billion stake in CoreWeave

Driving the news: Nvidia is buying CoreWeave Class A common stock at a purchase price of $87.20 per share.

• The companies said the investment was part of an expansion of their partnership.
• CoreWeave shares were up more than 10% in pre-market trading Monday morning. Nvidia was down 0.6% pre-market.

What they're saying: "CoreWeave's deep AI factory expertise, platform software and unmatched execution velocity are recognized across the industry," Nvidia CEO Jensen Huang said in a statement.

• "Together, we're racing to meet extraordinary demand for Nvidia AI factories — the foundation of the AI industrial revolution."

Zoom out: Nvidia, the main beneficiary of the AI boom, has made multiple investments in other AI companies.

• Over the last two years, the company and its venture capital arm have made more than 100 investments, per PitchBook data.
• Nvidia took a $2 billion stake in chip-software designer Synopsys late last year.
• The chip maker also committed last year to invest $10 billion in AI developer Anthropic.

The bottom line: The AI trade is alive and well.

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