According to a document, the foundation founded by Nvidia CEO Jensen Huang and his wife Lori is purchasing computing resources from CoreWeave and donating them to universities and other non-profit institutions. The document shows the donation is worth $108.3 million so far.
The computing resources will be used for scientific and artificial intelligence research, according to Tuesday's filing. Nvidia said in the filing that it plans to provide free engineering services to some recipient institutions.
This donation not only demonstrates Huang's generosity, but also reflects another step of Nvidia's support for CoreWeave, a cloud computing company focused on artificial intelligence applications.
Nvidia designs the graphics processing units (GPUs) that CoreWeave makes available to customers. In January this year, Nvidia invested US$2 billion in CoreWeave, becoming the company's second largest shareholder at the time.
Nvidia signed a $6.3 billion cloud computing capacity deal with CoreWeave last year that guarantees the AI chip company will purchase any cloud capacity not sold to customers.
The chip giant has come under scrutiny for investing billions of dollars in AI ventures including ChatGPT developer OpenAI and neoclouds, raising investor concerns about potential circular funding.
When CoreWeave released its earnings report last week, it raised the lower end of its capital expenditure forecast due to rising component prices.