The charitable foundation of NVIDIA CEO Jensen Huang and his wife, Lori, has purchased $108.3 million in AI computing capacity from CoreWeave and plans to donate it to universities and nonprofit research institutes. The donation will support science and artificial intelligence research, according to a recent filing.
The move connects philanthropy, AI research, and NVIDIA’s growing role in the cloud computing market. However, it also comes as investors continue to question NVIDIA’s close financial ties with AI infrastructure companies, including CoreWeave.
The Jen-Hsun and Lori Huang Foundation has bought computing resources from CoreWeave for academic and nonprofit use. The filing said the donated capacity will support research in artificial intelligence and science.
Universities and nonprofit institutes often need high-cost computing power to train AI models, analyze large datasets, and run advanced simulations. Therefore, the donated cloud capacity could help researchers access tools that are usually expensive and limited.
NVIDIA also plans to offer free engineering services to some grant recipients. The filing did not name all beneficiaries, but it said the support will go toward research work rather than commercial projects.
The donation adds another layer to NVIDIA CEO Huang’s public support for AI research. According to the Bloomberg Billionaires Index, Huang’s net worth stands at about $187 billion, driven by NVIDIA’s rapid growth during the AI boom.
CoreWeave is a cloud computing company focused on AI workloads. It uses NVIDIA graphics processing units, or GPUs, to provide computing power to customers building and running AI systems.
NVIDIA invested $2 billion in CoreWeave earlier this year. That investment made NVIDIA one of the company’s largest shareholders at the time. The chipmaker also signed a $6.3 billion agreement last year tied to CoreWeave’s cloud capacity.
Under that agreement, NVIDIA agreed to buy certain unsold cloud capacity from CoreWeave. As a result, CoreWeave gained a major customer and financial support from one of its key suppliers.
The Huang Foundation’s purchase now adds another transaction linked to CoreWeave’s computing business. While the filing frames the purchase as a donation for research, it also directs a large amount of spending to a company that depends heavily on NVIDIA chips.
NVIDIA has faced investor questions over its investments in AI companies and cloud providers. Some investors have raised concerns about ‘circular financing,’ where NVIDIA invests in companies that then buy or use NVIDIA-powered infrastructure.
Those concerns have grown as NVIDIA signs large deals across the AI sector. The company has invested in OpenAI and other AI firms, while also supporting new cloud companies that rely on its GPUs.
CoreWeave sits at the center of that debate because it buys NVIDIA chips, sells AI cloud capacity, and has received investment and purchase commitments from NVIDIA. The foundation’s $108.3 million purchase may add more attention to those ties.
However, the filing describes the purchase as a charitable grant program for research. It also says the computing capacity will go to universities and nonprofit institutions, not private companies.
CoreWeave recently reported first-quarter revenue of $2.08 billion, above analyst expectations of $1.97 billion. The company’s total revenue rose about 112% year over year, while its revenue backlog reached $99.4 billion by the end of the quarter.
The company also raised the lower end of its capital spending forecast last week. CoreWeave cited higher component prices as one reason for the updated outlook.
CoreWeave shares closed Wednesday at $111.31, up 3.3%. The stock later rose to $112.52 in after-hours trading, adding another 1.09%.
The $108.3 million donation places CoreWeave’s AI cloud capacity in academic and nonprofit research settings. At the same time, it keeps attention on NVIDIA’s wider AI investment strategy and its financial links across the fast-growing AI infrastructure market.
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