April 8 2025
Breaking Alert

Nvidia foundation buys $108 million of AI computing to donate it to researchers

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According to a filing, the foundation of Nvidia CEO Jensen Huang and his wife, Lori, is buying computing time from CoreWeave and ‌donating it to universities and other nonprofit institutes. The donation is valued at $108.3 million so far. The computing resources will be used for science and artificial ⁠intelligence research. Nvidia plans to offer free engineering services to some of the grant recipients, according to the filing.

 

The donation also represents another support measure from Nvidia to CoreWeave, a cloud computing company that specializes in AI applications.

 

Last year, Nvidia signed a $6.3 billion deal for cloud computing capacity with CoreWeave that guarantees the ‌AI chip company will purchase any cloud capacity not sold to customers. The chip giant has drawn scrutiny for investing billions of ‌dollars into AI firms including ChatGPT maker OpenAI and neoclouds, raising investor concerns about potential circular financing.

CoreWeave raised the lower end of its capital spending forecast last ‌week when it reported results, citing higher prices of components.