CoreWeave Announces Cloud Deal To Power Runway’s AI Video Generation Models

• The deal with Coreweave will allow Runway to train its latest AI models without any geographical or cloud boundaries.
• The partnership with CoreWeave “will be key” to Runway’s research, training, and productization goals, Runway’s founder said. 
• The announcement comes amid rising concerns about AI valuations and debt. 

CoreWeave, Inc. (CRWV) announced that it has entered into an agreement with Runway to power the AI company’s video generation models. 

The deal will leverage Nvidia’s (NVDA) NVIDIA GB300 NVL72 systems to train large-scale models and will also employ CoreWeave AI Object Storage to allow instant global accessibility for a single dataset without any transaction fees. 

As a result of this deal, Runway will be able to train its latest AI models with high-throughput GPU performance without any geographical or cloud boundaries.

“AI is becoming core to how companies build and operate, and they need a cloud platform that can match that shift with performance, efficiency, security and scale. That’s CoreWeave,” said Brian Venturo, Co-Founder and Chief Strategy Officer of CoreWeave.

Shares of CRWV are down about 2.8% at the time of writing. 

AI Integration

Runway will leverage CoreWeave’s AI Cloud platform and integrated software and data capabilities to improve the efficiency and scale of its AI models. 

Runway’s AI models have diverse use cases, including filmmaking, autonomous driving, life sciences, and training large-scale simulation engines. “That level of ambition requires a reliable, scalable AI cloud platform that allows us to accelerate our research and serve a wide range of customers,” Anastasis Germanidis, Co-Founder and CTO of Runway, said. 

The partnership with CoreWeave “will be key” to the company’s research, training, and productization goals, he added. 

The announcement comes amid doubts over AI valuations. Recently, CoreWeave announced plans to raise $2 billion through the issuance of convertible senior notes. Shares of the company slid further after Oracle (ORCL) reported disappointing results on Wednesday that had a ripple effect on other stocks. 

How Did Stocktwits Users React?

On Stocktwits, the retail sentiment around CRWV went from ‘neutral’ to ‘bearish’ territory over the past 24 hours, while message volume remained at ‘normal’ levels at the time of writing.

Shares of CRWV have gained over 115% in the past year.

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