Hudson River Trading signs multibillion dollar CoreWeave AI computing deal

Hudson River Trading signed a multiyear agreement worth billions of dollars with CoreWeave to expand the computing infrastructure used for its trading research and models. The agreement builds on an existing partnership between the companies and represents a material expansion of their relationship, CoreWeave Chief Revenue Officer Jon Jones told Bloomberg. He declined to disclose specific financial terms. As part of the deal, HRT will become one of the first CoreWeave customers to receive wide scale access to Nvidia’s newest Vera Rubin AI chips. HRT, one of the largest nonbank trading firms in the US, has been increasing its use of specialized cloud providers such as CoreWeave as its research requires greater computing capacity. Additional processing power allows researchers to test more models and evaluate trading strategies across a wider range of markets and time horizons. Kevin Lee, head of research and development at HRT, said greater access to computing resources lets the firm’s researchers run more experiments and potentially identify new trading opportunities. He also said CoreWeave had performed well in delivering infrastructure on schedule and operating Nvidia hardware ef...