Trading firm Jane Street ploughs USD1b into CoreWeave

The news: Tech-driven trading firm Jane Street announced a USD1 billion ($1.4 billion) investment into cloud-provider CoreWeave as well as plans to spend another USD6 billion across the company’s technology offerings.

The numbers: A statement released on Wednesday says Jane Street paid USD109 per share to acquire USD1 billion worth of CoreWeave class A common stock, expanding the companies’ partnership.

The context: Under the new commitment, CoreWeave will provide Jane Steet with access to next-generation compute, including Nvidia’s Vera Rubin’s chips which are set for release later this year. Jane Street will also pay CoreWeave for products to help the trading firm develop and deploy its own AI software.

The deal is the third multi-billion dollar deal struck by CoreWeave this month, having announced commitments with Meta and Anthropic within days of each other.