CoreWeave and OpenAI Ink $11.9B AI Cloud Deal

CoreWeave has signed a five-year, $11.9 billion agreement with OpenAI to enhance the latter's AI model training and service delivery capabilities. This deal includes OpenAI acquiring a $350 million equity stake in CoreWeave, marking a significant collaboration between the two companies. The partnership represents a strategic move for CoreWeave, which is preparing for an IPO, as it diversifies its customer base beyond Microsoft, which previously accounted for a majority of its revenue. CoreWeave, backed by Nvidia, operates a robust AI-specific cloud service with extensive GPU resources. This collaboration signifies a shift in the relationship dynamics between OpenAI and Microsoft, with the former now having a direct stake in CoreWeave. The deal is expected to bolster CoreWeave's position in the AI infrastructure market as investor interest in generative AI continues to surge.