CoreWeave signs $1.17 billion AI agreement with Vast Data

CoreWeave has signed an $1.17 billion AI agreement with Vast Data, which is backed by Nvidia. As a result of this news, CoreWeave's stock rose nearly 4% in pre-market trading. According to the agreement, CoreWeave will use Vast as its primary data platform for cloud infrastructure, providing customers with access to graphics processing units (GPUs) for training and running AI models. Vast stated that such contracts typically last three to five years but declined to disclose specific financial terms.