CoreWeave has signed a $7bn combined computing and equity deal with quantitative trading firm Jane Street, marking a further step in its transformation from crypto miner to AI infrastructure provider.
CoreWeave Signs $7bn AI, Equity Deal with Jane Street as Crypto Miner Pivot Deepens
16 April 2026 - 10:02 CEST
Under the agreement, CoreWeave will supply high-performance computing power to support Jane Street’s research operations, while the trading firm will invest $1bn in equity at $109 per share, below recent market prices. CoreWeave shares rose more than 1% to close at $118.69 in New York following the announcement.
The deal underscores how former crypto-native firms are repositioning themselves at the centre of the AI boom.
From crypto mining to AI infrastructureCoreWeave was founded in 2017 as an Ethereum-focused mining operation, building out large-scale computing infrastructure to validate blockchain transactions. As demand for AI computing surged, the company began repurposing its hardware to support large language models and other high-performance workloads.
This transition reflects a broader trend across the crypto mining sector. Both Bitcoin mining and AI computing rely on energy-intensive data centres and specialized hardware, creating a natural overlap between the two industries. As crypto market volatility has persisted, miners have increasingly sought to diversify into AI to stabilize revenues and capture new demand.
CoreWeave’s earlier attempt to acquire bitcoin miner Core Scientific in a $9bn deal highlighted this strategy, aiming to consolidate the companies' combined computing infrastructure and accelerate its expansion into AI. Although the bid ultimately failed, it signalled the company’s intent to scale beyond its crypto origins.
Strategic partnership signals industry shiftThe expanded partnership with Jane Street illustrates how traditional financial firms are also tapping into this evolving infrastructure layer. By securing dedicated computing capacity, Jane Street can enhance its research capabilities, particularly in data-intensive areas such as machine learning and quantitative modelling.
At the same time, the equity investment deepens alignment between the two firms, positioning Jane Street as a strategic backer of CoreWeave’s growth.
The deal points to a wider convergence between financial markets, AI and former crypto infrastructure providers. As demand for computing power accelerates, companies that built capacity during the crypto boom are emerging as key suppliers to the next wave of technology development.
