CoreWeave has declared that it has successfully secured an order from NVIDIA, valued at a minimum of $6.3 billion. This substantial order stems from a deal inked in 2023, wherein NVIDIA is committed to acquiring any remaining unsold computational capacity from CoreWeave until April 2032. CoreWeave intends to unveil the complete specifics of this agreement when it publishes its third-quarter earnings statement.

Since March of this year, CoreWeave's share price has witnessed considerable fluctuations. On Monday, the stock closed with a 7.6% increase, pushing its market valuation close to $59 billion. CoreWeave's operational framework heavily hinges on NVIDIA, as it generates profits by procuring NVIDIA GPUs and subsequently renting out computational resources. Moreover, NVIDIA has been an early backer of CoreWeave, owning roughly 7% of its Class A shares.

CoreWeave has witnessed swift business expansion, landing sizable contracts with OpenAI. Additionally, cloud service behemoths are also turning to CoreWeave for computational assistance. In the second quarter of this year, CoreWeave's revenue soared to $1.21 billion, marking a 207% year-on-year surge, despite still incurring a loss of $290.5 million. NVIDIA's substantial order has, to a certain extent, eased investors' anxieties regarding the steadiness of CoreWeave's forthcoming revenue streams.