内容来源：https://aibusiness.com/data-centers/nvidia-invests-2b-in-coreweave-expands-partnership

内容总结：

英伟达深化与云服务商CoreWeave合作，加码AI基础设施布局

近日，英伟达宣布扩大与新兴云服务提供商CoreWeave的合作关系，不仅协助其建设至2030年实现50亿瓦电力产能的“AI工厂”，还以每股87.20美元的价格购入CoreWeave的A类普通股，投资额达20亿美元。此举推动CoreWeave股价在早盘交易中上涨，缓解了市场对其债务压力的担忧。此次投资是英伟达在去年承诺投入63亿美元使用CoreWeave基础设施基础上的进一步加码。

分析指出，这一合作凸显出AI产业正将重心转向基础设施与数据中心建设。随着全球对AI算力需求的激增，数据中心用地与电力资源已成为行业竞争的关键。微软、OpenAI等企业近期也纷纷宣布在印度、美国多州启动大规模数据中心建设计划。英伟达除投资CoreWeave外，亦计划向OpenAI投入高达1000亿美元，并通过芯片供应支持其数据中心建设。

行业研究机构Futurum Group分析师尼克·佩兴斯表示，英伟达在此次合作中扮演了“共同开发者”角色，不仅帮助CoreWeave获取算力与地产资源，更将其软件纳入自身参考架构体系，使CoreWeave从服务商升级为技术合作伙伴。此举既为CoreWeave带来区别于同行的竞争优势，也助推英伟达推广其Nemotron开源模型系列，强化其“不止于芯片公司”的战略定位。

然而，合作也引发对“循环融资”模式的关注——英伟达向CoreWeave注资，后者又将资金用于购买英伟达芯片，可能导致资金回流。另一方面，CoreWeave在获得技术支持的同时，亦需警惕对英伟达供应链的过度依赖风险。

当前，AI基础设施竞赛已全面展开，头部企业通过资本与技术联动加速生态布局，而电力与土地资源正成为制约行业发展的新瓶颈。

中文翻译：

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供应商深化合作，提升CoreWeave在AI基础设施市场的地位。
随着AI基础设施需求持续增长，英伟达与云端服务商CoreWeave进一步拓展了合作关系。双方于周一宣布，英伟达将协助CoreWeave建设AI工厂，目标在2030年前实现50亿瓦特的电力产能。此外，英伟达以每股87.20美元的价格购入CoreWeave的A类普通股，向这家云端服务商投资20亿美元。此前CoreWeave因债务问题股价持续承压，此消息推动其股价在早盘交易中上涨。这项新投资是对去年英伟达承诺在2032年前投入630亿美元使用CoreWeave基础设施的补充。

此次合作升级表明，AI市场正日益聚焦于基础设施及AI工厂与数据中心的建设。过去一年，数据中心建设所需的土地与房地产资源竞争日趋激烈。微软于去年12月宣布将在印度投资1750亿美元建设AI基础设施；OpenAI的"星际之门"计划已启动德克萨斯州AI数据中心建设，并计划与甲骨文、软银合作在俄亥俄州、新墨西哥州、德克萨斯州和威斯康星州再建五座数据中心。英伟达自身也建立了众多基础设施合作伙伴关系，这家AI软硬件巨头计划向OpenAI投资高达1000亿美元，并为该生成式AI供应商提供芯片以建设其专属AI数据中心。

英伟达的赋能
Futurum Group分析师尼克·佩兴斯指出，通过与CoreWeave深化合作，英伟达正扮演共同开发者的角色，帮助这家云端服务商获取算力与地产资源。"电力已成为新的瓶颈，地产资源也在一定程度上受限，"佩兴斯表示，"两者紧密关联，因为数据中心往往倾向于建在电力资源充沛的区域。"

此外，英伟达将在其参考架构中采用CoreWeave的软件，使后者从纯粹的服务提供商升级为技术合作伙伴。英伟达参考架构是帮助企业建设AI工厂的蓝图。"这本质上是对CoreWeave软件价值的认可，"佩兴斯强调。对CoreWeave而言，英伟达的认可有助于其与Lambda Labs、Nscale等竞争对手形成差异化。同时，获得英伟达Vera Rubin平台的使用权也为其带来竞争优势。"未来企业可能不仅将CoreWeave视为GPU供应商，"佩兴斯补充道。

英伟达的收益与挑战
对英伟达而言，此次合作也为其推广Nemotron开源模型系列开辟了新渠道。"英伟达显然希望世界认识到它不仅是GPU公司，"佩兴斯指出，"这为他们提供了软件和模型分发的又一途径。"

然而佩兴斯提醒，此类合作再次引发关于循环金融安排的争议：由于英伟达投资的对象会将资金用于购买英伟达芯片，实质上资金又回流至英伟达。对CoreWeave而言，潜在挑战在于可能过度依赖英伟达作为供应商。

英文来源：

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The vendors expanded their partnership, boosting CoreWeave's standing in the AI infrastructure market.
In a move that underscores the growing demand for AI infrastructure, Nvidia expanded its partnership with neocloud vendor CoreWeave.
The vendors revealed on Monday that Nvidia will help CoreWeave build AI factories to produce 5 gigawatts of electric power capacity by 2030. Nvidia also invested $2 billion in the neocloud vendor by buying CoreWeave Class A common stock at a purchase price of $87.20 per share. The news sent shares of CoreWeave, which has seen prices plummet over concerns about its debt load, higher in early trading. The new investment is in addition to the $6.3 billion commitment Nvidia made last year to use CoreWeave's infrastructure through 2032.
The expanded partnership points to an AI market increasingly focused on AI infrastructure and the build-out of AI factories and data centers.
The demand for land and real estate to build these data centers has intensified over the past year. Microsoft revealed plans for a $17.5 billion AI infrastructure investment in India in December. Meanwhile, OpenAI's Stargate initiative is underway with construction on an AI data center in Texas already started and five more data centers planned in partnership with Oracle and SoftBank in Ohio, New Mexico, Texas and Wisconsin. For its part, Nvidia has numerous infrastructure partnerships. The AI hardware and software giant revealed plans to invest up to $100 billion in OpenAI and supply chips to the generative AI vendor to build out its own AI data centers.
Nvidia's Support
With the expansion of its partnership with CoreWeave, Nvidia is acting more like a co-developer, helping the neocloud provider secure both compute power and real estate, said Nick Patience, an analyst at Futurum Group.
"Power is the new bottleneck here and real estate to a certain extent," Patience said. "The two things are closely linked because you get a lot of data centers being put where the power is."
Moreover, Nvidia will use CoreWeave's software in its reference architectures, elevating the neocloud provider from a pure service provider to a technology partner. Nvidia's reference architecture is a blueprint that helps organizations build AI factories.
"This is … basically an endorsement by Nvidia saying [CoreWeave's] software is worth something," Patience said.
For CoreWeave, the stamp of approval from Nvidia helps it differentiate from competitors such as Lambda Labs and Nscale.
CoreWeave's access to the new Nvidia Vera Rubin platform also gives it a competitive advantage.
"Potentially, enterprises could look upon CoreWeave for more than just GPUs," Patience added.
Advantages for Nvidia and Challenges
For Nvidia, the deal is also an avenue to promote its Nemotron family of open models.
"Nvidia certainly wants the world to know that it's much more than a GPU company," Patience said. "This gives them another channel for distribution of their software and models."
However, the deal raises the now-familiar issue of circular financial arrangements, Patience said. Since Nvidia is investing in a company that uses the money to buy Nvidia chips, then Nvidia is essentially getting that money back.
Another challenge for CoreWeave is that it could become dependent on Nvidia as a supplier.