Corvex Shares Jump 50 Percent After Nvidia Infrastructure Deal

Corvex, Inc. entered into a multiyear infrastructure agreement to supply an unnamed leading artificial intelligence company with clusters of Nvidia Corp. HGX B200 graphics processors and Nvidia Quantum-2 InfiniBand networking. The deployment integrates dedicated high-speed storage, central processing units, and liquid-cooled capacity within an existing air-cooled facility.

Corvex delivered the initial portion of the cluster during the first quarter and installed the remaining capacity throughout the second and third quarters. The company expects the project to reach its full revenue run rate by the middle of the current quarter. To finance the expansion, Corvex is utilizing a combination of debt, customer prepayments, and existing cash on hand.

Following the announcement of the partnership, shares of Corvex, Inc. rose approximately 50 percent on the Nasdaq.