Nvidia has invested $2 billion in CoreWeave at a purchase price of $87.20 per share, the companies said Monday, as they expand their partnership to ‍boost CoreWeave's data center ‍build-out ambitions.

Shares of CoreWeave jumped nearly 10% in premarket trading.

CoreWeave ⁠is targeting to build more than 5 gigawatts in AI data center capacity by ​2030. The fresh investment from Nvidia will help the AI infrastructure provider speed up procurement ‍of the land and power required to build the ⁠facilities.

So-called "neoclouds" like CoreWeave, which provide tech companies with the infrastructure needed to build, run and deploy AI technologies, have seen a surge ⁠in demand in ​recent years as ⁠enterprise adoption of AI picks up.

Nvidia was CoreWeave's ‍third largest shareholder with a 6.3% stake, or 24.3 million ‌shares, in the company.

It is now nearly doubling its stake in Coreweave by ⁠adding roughly ​23 million ‍shares in the firm, becoming its second-largest investor now, according to Reuters ‍calculations based on data compiled by LSEG.