CoreWeave (CRWV.US) announced on Thursday that it has signed an agreement with AI startup Runway to integrate its AI cloud solutions into Runway's video generation models. Runway will leverage NVIDIA's (NVDA.US) GB300NVL72 systems provided by CoreWeave for large-scale training and inference, while utilizing W&B Models for comprehensive workload observability.
Brian Venturo, Co-founder and Chief Strategy Officer of CoreWeave, stated, "AI is becoming central to how enterprises build and operate, requiring a cloud platform that matches performance, efficiency, security, and scale. That’s CoreWeave. Runway has established itself as a pioneer in generative video among top creative studios in Hollywood and the tech industry. We’re proud they’ve chosen CoreWeave to support their continued scaling and innovation in this rapidly expanding field."
Anastasis Germanidis, Co-founder and CTO of Runway, added, "Runway’s models are redefining everything from film production to large-scale simulation engine training. This ambition demands a reliable, scalable AI cloud platform to accelerate our research and serve a broad customer base. CoreWeave’s integrated solutions will be key to our fast and efficient research, training, and productization. We look forward to unlocking new opportunities through this long-term strategic partnership."
At the time of reporting, CoreWeave’s after-hours trading showed a slight decline of 1%. The company completed its U.S. IPO in March this year, attracting investors betting on the AI capital expenditure boom. Headquartered in Livingston, New Jersey, CoreWeave is one of NVIDIA’s closest partners, with major clients including OpenAI and Microsoft (MSFT.US).
Recently, the company’s management disclosed plans to raise $2 billion through convertible debt issuance. Part of the proceeds will fund a derivative transaction aimed at mitigating the risk of significant stock dilution if the bonds convert to equity. The remaining funds will support ongoing business operations.
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