CoreWeave Secures Multi-Year Deal With Quant Giant HRT as Nvidia Vera Rubin Compute Enters Quant Trading Market

TradingKey - AI cloud computing company CoreWeave (CRWV) announced on Thursday that it signed a multi-year agreement with Hudson River Trading (HRT), a world-renowned quantitative trading firm. Under the agreement, HRT will use CoreWeave's AI cloud platform to build next-generation research infrastructure for AI-driven quantitative research, complex model training, and trading strategy development. Neither party disclosed specific contract amounts in the official announcement.

A key focus of this partnership is that HRT will use Nvidia's (NVDA) next-generation Vera Rubin NVL72 platform and HGX B200 systems, while connecting HRT's own data centers to the CoreWeave cloud platform via high-speed networks.

HRT is one of the world's major quantitative trading firms, long utilizing mathematical models, machine learning, and high-performance computing for trading research. As AI models become increasingly complex, quantitative firms' demand for GPUs and high-performance cloud computing is also growing rapidly. CoreWeave stated that this partnership demonstrates expanding demand for AI infrastructure among financial services firms, signifying that the company's customer base is extending beyond AI labs and tech giants into the financial industry.

For CoreWeave, the company had already listed HRT as a key enterprise customer in the first quarter of this year, and noted in its latest second-quarter earnings report that their partnership had further expanded. The signing of this multi-year agreement effectively upgrades their previous collaboration into a more long-term, definitive compute procurement relationship.

Even more noteworthy is that CoreWeave is rapidly penetrating the Wall Street quantitative trading market. In April this year, another major quantitative trading firm, Jane Street, committed to purchasing approximately $6 billion in AI cloud services from CoreWeave over multiple future years, while investing $1 billion to acquire CoreWeave shares at $109 per share. Now, with HRT expanding its collaboration, it indicates that financial institutions may become another major source of customers for CoreWeave, following AI companies and tech giants.