CoreWeave Secures Multibillion-Dollar AI Cloud Deal with Hudson River Trading

CoreWeave, an AI cloud infrastructure provider, has entered into a significant multiyear agreement worth billions with Hudson River Trading (HRT), a leading quantitative trading firm. This deal expands upon their existing partnership and is aimed at bolstering HRT's computing capabilities for trading research and model development.

CoreWeave's Chief Revenue Officer, Jon Jones, described the agreement as a “significant expansion” of their collaboration. As part of the deal, HRT will gain early access to Nvidia's upcoming Vera Rubin AI chips, enhancing its ability to conduct extensive research and testing of trading strategies.

The partnership reflects a broader trend among financial institutions moving towards specialized cloud providers like CoreWeave, which focuses on GPU-intensive workloads, unlike traditional cloud services that offer GPUs as part of a broader service package. This shift is driven by the growing demand for robust computing infrastructure in the financial sector.

CoreWeave has been actively diversifying its client base beyond its original focus on AI labs and tech companies. The recent agreement with HRT follows a $6 billion commitment from Jane Street, another major trading firm, indicating CoreWeave's rapid ascent as a preferred infrastructure provider for top-tier quant firms.