Proprietary trading powerhouse Jane Street has finalized a deal worth approximately $6bn to secure cloud services from CoreWeave, a specialist in AI-dedicated infrastructure. Concurrently, the firm invested $1bn in equity at a price of $109 per share, representing a discount of roughly 7%. This transaction brings its total stake to nearly $1.44bn, positioning Jane Street as the group's fifth-largest shareholder.

The agreement underscores the surging demand for AI-related computing power. CoreWeave, which counts Nvidia among its backers, has been securing a string of major contracts, notably with Anthropic and Meta—the latter recently expanded to $21bn. So-called "neo-cloud" providers are capitalizing on this trend by offering infrastructure tailored to the escalating requirements of companies developing AI models.

CoreWeave's valuation has now reached $61.61bn, up from $23bn at the time of its IPO, while its share price has climbed nearly 64% YTD, despite a recent slight pullback. To fuel its expansion, the company plans to invest between $30bn and $35bn in 2026, primarily in Nvidia chips and data centers, though this growth comes at the cost of a heavy debt load exceeding $14bn.