CoreWeave discloses new order form under agreement with Nvidia

CoreWeave (CRWV) disclosed that it and Nvidia (NVDA) entered into a new order form under the existing master services agreement dated as of April 10, 2023, which has an initial value of $6.3B, that establishes an arrangement with respect to the sale by the company of reserved cloud computing capacity to its customers and provides Nvidia access to any residual unsold cloud computing capacity. Under the terms of agreement, in instances where CoreWeave’s datacenter capacity is not fully utilized by its own customers, Nvidia is obligated to purchase the residual unsold capacity through April 13, 2032.