Hudson River Trading signs multi-billion-dollar AI cloud deal with CoreWeave

Hudson River Trading has agreed to run its AI trading research on CoreWeave's cloud for several years. Data Center Dynamics reports the contract as multi-billion-dollar but gives no exact value. HRT will use Nvidia Vera Rubin NVL72 systems for model development and AI-driven research, along with Nvidia HGX B200 GPUs. Those are the only published terms: no dollar amount, no capacity number, no schedule.

The public statements from both companies stay at the level of salesmanship. Kevin Lee, HRT's head of R&D, says the AI platform a research team builds on matters as much as the models it builds. Jon Jones, CoreWeave's chief revenue officer, calls financial services one of the most demanding proving grounds for AI and says his company is built for serious AI workloads. Neither mentions a price.

HRT is not the first trading firm to buy AI cloud from CoreWeave. IMC chose CoreWeave for similar research work just before this agreement, and Jane Street committed $6 billion to CoreWeave for AI cloud capacity earlier this year. HRT also has a contract with Lambda, a rival neocloud, for Nvidia HGX B200 systems signed in May. That could be a careful trial of vendors or a deliberate multi-cloud approach. Either way, CoreWeave picked up the newest piece of business.

The missing number matters most to those financing data center construction. A multi-billion contract tied to a specific Nvidia system will have to turn into actual racks, power, and cooling. "Multi-billion" covers a wide range; the only public comparison in the same product class is Jane Street's $6 billion commitment. That does not reveal whether HRT's deal is one-third as large or nearly as large.

The mention of Nvidia Vera Rubin NVL72 points to capacity that will arrive over the life of the agreement, not just hardware already installed in CoreWeave's data centers. The announcement does not say when that capacity lands. That date matters: CoreWeave's construction schedule and its lenders will be judged against it.

The arrangement gives HRT access to the hardware without building a data center, and it gives CoreWeave a named customer with a demanding production workload, the kind of reference that sells the next trading firm. The figure left out of the announcement is the one lenders will be looking at when CoreWeave next raises.