CoreWeave Lands Multibillion-Dollar Hudson River Deal as Wall Street Races for Nvidia Chips
Thu, August 20, 2026 at 4:57 PM GMT+3 2 min read
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CoreWeave Inc. (NASDAQ:CRWV) has landed a multibillion-dollar agreement with Hudson River Trading, intensifying Wall Street's race for the newest AI chips from Nvidia Corp. (NASDAQ:NVDA).
The multiyear deal gives Hudson River access to Nvidia's Vera Rubin and B200 systems, according to a company announcement Thursday. CoreWeave Chief Revenue Officer Jon Jones called the deal "a material expansion" of an existing partnership in an interview with Bloomberg.
The agreement follows rival Jane Street's $6 billion commitment to CoreWeave's AI cloud and separate $1 billion investment in the company.
Wall Street's AI Arms Race
Hudson River uses AI computing power to train trading models, test strategies and search vast datasets for profitable patterns.
The firm has plenty of money to spend. It generated a record $11.4 billion in second-quarter trading revenue and $7.4 billion in profit, according to a Bloomberg report.
Kevin Lee, Hudson River's head of research and development, said giving researchers access to the latest AI technology is what "lets a research team like ours push further, faster."
CoreWeave has also added trading firms Flow Traders and IMC as customers.
Nvidia Chips Give CoreWeave Pricing Power
CoreWeave says it was the first AI cloud provider to validate Nvidia's Vera Rubin NVL72 platform. The company raised prices approximately 25% in July and expects newer contracts to deliver contribution margins 5 to 10 percentage points higher than earlier agreements.
Hudson River will also use Nvidia B200 chips, which currently rent for $6.87 per hour, according to the Ornn index. Strong rental prices could help sustain CoreWeave's pricing power: Traders on Kalshi give a 60% chance that the benchmark climbs above $7.67 before year-end.
Powering Growth And Reducing Customer Risk
Meeting demand also requires securing enough electricity to expand CoreWeave's data centers. The company finished the second quarter with approximately 3.7 gigawatts of contracted power capacity.
Traders on Kalshi assign a 79% probability that the figure exceeds 4.2 gigawatts in the third quarter, but only a 35% chance it tops 4.4 gigawatts.
The agreement comes as CoreWeave works to diversify its revenue.
Its largest customer accounted for 36% of second-quarter sales, compared with 71% for its biggest customer a year earlier. Its top three customers still generated approximately 72% of revenue.
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This article CoreWeave Lands Multibillion-Dollar Hudson River Deal as Wall Street Races for Nvidia Chips originally appeared on Benzinga.com
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