New Jersey’s burgeoning reputation as the “East Coast Silicon Valley” received a massive boost on Monday as Livingston-based CoreWeave announced a landmark $2 billion investment from tech giant NVIDIA.
The deal, which values CoreWeave’s Class A common stock at $87.20 per share, marks a significant deepening of the partnership between the world leader in AI computing and the Garden State’s premier AI cloud provider. The investment is part of a grander strategy to build out more than 5 gigawatts of “AI factories” by 2030—an infrastructure project NVIDIA CEO Jensen Huang described as “the largest in human history.”
The collaboration aims to address the global shortage of computing power as businesses race to adopt generative AI. By leveraging NVIDIA’s financial muscle and CoreWeave’s specialized cloud architecture, the companies plan to accelerate the procurement of land, power, and physical facilities required for massive data centers.
For New Jersey, the news reinforces the state’s aggressive push into the AI sector. CoreWeave, headquartered on West Mount Pleasant Avenue in Livingston, has become the poster child for Governor Phil Murphy’s “Innovation Economy.”
“AI is entering its next frontier,” Jensen Huang, founder and CEO of NVIDIA said. “Together, we’re racing to meet extraordinary demand for NVIDIA AI factories—the foundation of the AI industrial revolution.”
The announcement comes on the heels of several major wins for CoreWeave in the state, including:
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The Kenilworth Project: A recently approved $1.8 billion data center at the Northeast Science and Technology (NEST) campus, supported by the state’s first-ever “Next New Jersey” AI tax credits.
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The NJ AI Hub: A collaborative research initiative between CoreWeave, Princeton University, and the NJEDA to foster AI startups.
“From the very beginning, our collaboration has been guided by a simple conviction: AI succeeds when software, infrastructure, and operations are designed together,” Michael Intrator, co-founder and CEO of CoreWeave said.
Under the new agreement, CoreWeave will be among the first to deploy NVIDIA’s next-generation Rubin platform, featuring Vera CPUs and Bluefield storage systems. Additionally, NVIDIA will test and validate CoreWeave’s proprietary software—including SUNK and CoreWeave Mission Control—potentially incorporating them into NVIDIA’s official reference architectures for global enterprise customers.
With 5 gigawatts of capacity on the horizon—roughly enough power for 4 million homes—the Livingston-born “neocloud” is no longer just a local success story; it is now a central pillar of the global AI supply chain.
