CoreWeave Weighs Options Hedge Against AI Memory Price Risk

AI cloud provider CoreWeave has signed long-term supply agreements with chipmakers including Micron and SanDisk to secure memory for its AI infrastructure. The contracts include price floors. While they lock in supply, they also expose the cloud provider to the risk of paying above-market prices if memory prices fall. Analysts said the arrangements show that AI chip supply contracts have become far more legally binding, forcing operators to seek new hedging tools.

As of July 2026, CoreWeave was considering buying put options on suppliers including Micron to hedge against a decline in memory prices in the second half of the year. If prices fall, gains in the puts could offset procurement costs under the long-term agreements. The plan remains in preliminary discussions, no trades have been executed and no amount has been finalized. Still, the proposal would set a precedent for using financial instruments to hedge technology hardware procurement risk.