--- title: "Jane Street holds 2.4% to 3.7% of four AI suppliers while renting CoreWeave compute" description: "Four Schedule 13G amendments reached the SEC on November 6, and four days later CoreWeave, the AI cloud-computing provider, named Jane Street among its expanded customers. One balance sheet now holds disclosed equity across the AI supply chain's suppliers while renting the compute built on them, and the filings say less than they seem to." publisher: "The Inference" section: "Data Center" published: 2026-11-12T20:12:30.542Z modified: 2026-11-12T20:12:30.542Z canonical: https://theinference.org/article/jane-street-holds-stakes-in-sandisk-riot-core-scientific-and-bloom-energy-while-renting-coreweave-compute language: en keywords: "Jane Street, CoreWeave, Core Scientific, Riot Platforms, Bloom Energy" --- # Jane Street holds 2.4% to 3.7% of four AI suppliers while renting CoreWeave compute > Four Schedule 13G amendments reached the SEC on November 6, and four days later CoreWeave, the AI cloud-computing provider, named Jane Street among its expanded customers. One balance sheet now holds disclosed equity across the AI supply chain's suppliers while renting the compute built on them, and the filings say less than they seem to. [Jane Street](https://theinference.org/markets/companies/jane-street) spent November 6 filing its way across the AI supply chain, and what the filings show is holdings, not views [1][2][3][4]. In a single day the quantitative trading firm [amended its Schedule 13G passive-ownership disclosures](https://www.stocktitan.net/sec-filings/BE/schedule-13g-a-bloom-energy-corp-amended-passive-investment-disclosur-099e59715cbe.html) on four listed companies, [SanDisk](https://theinference.org/markets/companies/sandisk), [Core Scientific](https://theinference.org/markets/companies/core-scientific), [Riot Platforms](https://theinference.org/markets/companies/riot-blockchain) and [Bloom Energy](https://theinference.org/markets/companies/bloom-energy), every position dated September 30 [1][2][3][4]. Four days later, [CoreWeave](https://theinference.org/markets/companies/coreweave), the AI cloud-computing provider, named Jane Street among the customers it expanded, alongside [OpenAI](https://theinference.org/markets/companies/openai) [5]. Read together, the documents show one balance sheet holding equity in the suppliers of the AI buildout while renting the compute built on top of them. ## The four filings cover every layer of the buildout The names run down the stack. SanDisk makes the memory chips, and Jane Street reported 5.48 million shares in it [1]. Bloom Energy makes fuel cells for onsite data-center power, and this month NTT DATA, a Japanese IT services group, ordered 900 megawatts of it [3]. Riot Platforms and Core Scientific are bitcoin miners converting into compute landlords: Riot's new lease with [Anthropic](https://theinference.org/markets/companies/anthropic), an AI lab, covers 910 megawatts at its Corsicana site [6], and Core Scientific's filings now describe a [high-density colocation business](https://theinference.org/article/core-scientific-booked-the-revenue-its-1-8-billion-run-rate-sits-behind-a-permit-a-study-and-2027-bonds) beside the mining [7]. ![Rows of Bloom Energy solid-oxide fuel-cell servers, one visitor resting a hand on a unit](https://storage.googleapis.com/theinference-public/img/2e274c4f82c5451f.jpg) *Bloom Energy fuel-cell servers at the company's February 2010 launch event. Bloom makes the onsite power gear behind Jane Street's 2.4% position, its smallest of the four. (Bloom Energy via Flickr)* ## Small stakes, shared voting power, miners turning landlord Riot still earns most of its revenue mining bitcoin, with a smaller data-center line growing beside it [6], the same shift toward rented compute that MARA and HIVE, two other miners, are making [8]. The pattern extends our notes this week on AXT, a maker of optical materials, and [Aehr](https://theinference.org/markets/companies/aehr-test-systems), a maker of chip-test systems, and our [October 26 note](https://theinference.org/article/jane-street-paid-109-a-share-for-coreweave-now-near-54-with-6-billion-of-rented-compute-on-the-line) on Jane Street's CoreWeave position [2][3]. Every stake sits below five percent, and the Core Scientific and Bloom filings show all shares held with shared voting power, none sole [2][3]. *Chart: **One filing day: Jane Street holds 2.4% to 3.7% of four AI suppliers** Bar chart of Jane Street's disclosed passive stakes: SanDisk 3.7%, Core Scientific 2.9%, Riot Platforms 2.8%, Bloom Energy 2.4%.* *Percent of common stock beneficially owned by Jane Street Group as of September 30, 2026, per Schedule 13G amendments filed November 6, 2026. [1][2][3][6]* ## CoreWeave's quarter confirms the customer side [The November 10 release](https://markets.chroniclejournal.com/chroniclejournal/article/bizwire-2026-11-10-coreweave-reports-strong-third-quarter-2026-results) lists Jane Street among expanded relationships, alongside OpenAI, Cohere, an enterprise AI company, and [Perplexity](https://theinference.org/markets/companies/perplexity), an AI search company [5]. The firm holding suppliers' equity is also a tenant of the layer those suppliers feed. That layer is scaling quickly: revenue has risen every quarter since the end of 2024 [9], and full-year guidance moved up to $13.0–13.3 billion [5]. The quarter still lost $709 million [5]. Net interest expense ran to $846 million, and fourth-quarter interest is guided as high as $1.15 billion [5]. Demand grew, and so did the interest bill, even as the first production workloads on [NVIDIA](https://theinference.org/markets/companies/nvidia)'s Vera Rubin racks delivered 4.8 times the token throughput of the racks they replace [5]. *Chart: **CoreWeave's quarterly revenue has almost quintupled in two years** Line chart of CoreWeave quarterly revenue rising from $0.75 billion in Q4 2024 to $3.66 billion in Q3 2026.* *Quarterly revenue in US$ billions as reported, Q4 2024 through Q3 2026, from CoreWeave's SEC filings and its November 10, 2026, release. [5][9]* *Chart: **CoreWeave has spent $37.4 billion on capex against $8.9 billion of operating cash** Column chart comparing CoreWeave's quarterly capital spending with operating cash flow, Q4 2024 to Q3 2026; capex rises from $3.5 billion to $9.4 billion and exceeds operating cash in every quarter.* *Quarterly capital spending and cash from operations in US$ billions, Q4 2024 through Q3 2026, as reported in CoreWeave's SEC filings. Capex totals $37.4 billion over the eight quarters and operating cash flow $8.9 billion. [9]* ## The positions are inventory, and six weeks stale The disclosed sizes run from 5.48 million SanDisk shares to 10.49 million in Riot, with Core Scientific at 9.38 million and Bloom at 7.03 million [1][2][3][4][6]. All are dated September 30, so the filings show where Jane Street stood, not where it stands [1]. SanDisk gained about 16% in a single session this week as memory stocks rallied on CoreWeave's results [1]. Schedule 13G is the SEC's short form for passive holdings, and [these filings certify the shares were not acquired to influence the issuer](https://kalkine.com/news/announcements/jane-street-group-reports-9375973-shares-in-core-scientific) [2][3]. Nothing in them describes a hedge, and a market maker's disclosed long is more likely inventory than conviction. The risk lands on whoever copies the stake without asking what sits behind it. ## What the filings add is scope, not a signal What the filings add is scope: one firm sits on every side of the chain, holding the suppliers' equity and renting from the layer they feed. That buildout is contracted, with about $132.5 billion of backlog at CoreWeave alone [5], and the line to watch on it is the interest bill, not demand. ## Takeaway Jane Street's four Schedule 13G amendments, all dated September 30, disclose passive stakes of 2.4% to 3.7% in memory chips, fuel cells and two bitcoin miners turning into compute landlords, while the same firm rents CoreWeave capacity. The filings say what the firm held, not what it thinks. ## Sources 1. [ad-hoc-news.de, "SanDisk Jumps as Evercore Makes the Business-Model Case", 12 November 2026](https://www.ad-hoc-news.de/boerse/news/unternehmensnachrichten/sandisk-jumps-as-evercore-makes-the-business-model-case/70494555) 2. [Kalkine, "Jane Street Group Reports 9,375,973 Shares in Core Scientific", 10 November 2026](https://kalkine.com/news/announcements/jane-street-group-reports-9375973-shares-in-core-scientific) 3. [StockTitan, "Bloom Energy: Jane Street reports 2.4% stake" (Schedule 13G/A, on EDGAR 6 November 2026)](https://www.stocktitan.net/sec-filings/BE/schedule-13g-a-bloom-energy-corp-amended-passive-investment-disclosur-099e59715cbe.html) 4. [Kalkine Media, "Jane Street Group Discloses 10.49 Million Shares in Riot Platforms on Amended Schedule 13G", 6 November 2026](https://kalkinemedia.com/us/news/announcements/jane-street-group-discloses-1049-million-shares-in-riot-platforms-on-amended-schedule-13g) 5. [CoreWeave via Business Wire, "CoreWeave Reports Strong Third Quarter 2026 Results", 10 November 2026](https://markets.chroniclejournal.com/chroniclejournal/article/bizwire-2026-11-10-coreweave-reports-strong-third-quarter-2026-results) 6. [StockTitan, Riot Platforms (RIOT) SEC filings feed, retrieved 12 November 2026](https://www.stocktitan.net/sec-filings/RIOT/) 7. [StockTitan, Core Scientific (CORZ) SEC filings feed, retrieved 12 November 2026](https://www.stocktitan.net/sec-filings/CORZ/) 8. [Yahoo Finance, "CoreWeave Revenue Climbs 168% to $3.66 Billion, Raises 2026 Guidance", 11 November 2026](https://finance.yahoo.com/technology/ai/articles/coreweave-revenue-climbs-168-3-152900140.html) 9. [CoreWeave, quarterly figures from its SEC filings, retrieved 12 November 2026](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001769628) --- Jane Street holds 2.4% to 3.7% of four AI suppliers while renting CoreWeave compute — The Inference. Canonical: https://theinference.org/article/jane-street-holds-stakes-in-sandisk-riot-core-scientific-and-bloom-energy-while-renting-coreweave-compute