CoreWeave Inc. has secured a multibillion-dollar multiyear agreement with Hudson River Trading (HRT), intensifying Wall Street's race for the newest AI chips from Nvidia Corp. CoreWeave Chief Revenue Officer Jon Jones called the deal "a material expansion" of an existing partnership.

Partnership details

Under the agreement, HRT will gain access to Nvidia's Vera Rubin and B200 systems through CoreWeave's purpose-built AI cloud platform. CoreWeave says it was the first AI cloud provider to validate Nvidia's Vera Rubin NVL72 platform, supported by Spectrum-X Ethernet networking. The infrastructure is designed to enable HRT to scale its AI-driven trading research and model development capabilities.

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."

Wall Street's AI arms race

HRT uses AI computing power to train trading models, test strategies, and search vast datasets for profitable patterns. The firm has significant financial resources to support this investment, having generated a record $11.4 billion in second-quarter trading revenue and $7.4 billion in profit. The deal follows rival Jane Street's $6 billion commitment to CoreWeave's AI cloud and a separate $1 billion investment in the company. CoreWeave has also added trading firms Flow Traders and IMC as customers.

Nvidia chips give CoreWeave pricing power

HRT will also use Nvidia B200 chips, which currently rent for $6.87 per hour according to the Ornn index. CoreWeave raised prices approximately 25% in July and expects newer contracts to deliver contribution margins 5 to 10 percentage points higher than earlier agreements.

Powering growth and reducing customer risk

Meeting demand requires securing sufficient electricity to expand CoreWeave's data centers. The company finished the second quarter with approximately 3.7 gigawatts of contracted power capacity.

The agreement also comes as CoreWeave works to diversify its revenue base. 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.

Goldman Sachs is sounding out investors for a data center bond tied to CoreWeave, according to a Bloomberg report dated August 19, 2026. The investment bank is gauging market appetite for the instrument, which would link debt issuance directly to the artificial intelligence infrastructure company's assets or operations.

The outreach represents a significant step in financing the rapidly expanding data center sector driven by AI demand. CoreWeave has emerged as a key player in providing GPU-based cloud computing services, and such a bond structure could provide alternative capital sources beyond traditional equity or bank lending.

Deal Details

No specific terms regarding the bond size, coupon rate, maturity, or credit rating were disclosed in the initial report. Goldman Sachs typically conducts this process to assess investor demand before finalizing pricing and allocation.

Market Context

The move highlights the growing institutional interest in AI infrastructure financing. Data center bonds have gained traction as investors seek exposure to the digital economy's physical backbone without taking direct equity risk in high-growth technology companies.