CoreWeave has transitioned from a crypto-mining operator to a major player in AI infrastructure, bolstered by a $2 billion equity investment from Nvidia. This strategic shift comes as demand for GPU-based mining waned following Ethereum's move away from proof-of-work, prompting CoreWeave to repurpose its resources for AI training and high-performance computing. The investment from Nvidia underscores CoreWeave's growing influence among independent GPU infrastructure providers, positioning it as a significant competitor outside the largest cloud platforms. Since its IPO in March last year, CoreWeave's leadership has realized approximately $1.6 billion from stock sales, reflecting strong investor interest. This move highlights a broader industry trend of repurposing mining assets for AI-centric workloads, as the data-center sector anticipates increased competition and fragmentation.