CoreWeave's Third OpenAI Expansion Totals $22.4B

CoreWeave announced an expanded agreement with OpenAI worth up to $6.5 billion, bringing the companies’ total contract value to about $22.4 billion and marking the third major expansion of their partnership this year. CoreWeave, a GPU-focused cloud provider that supplies infrastructure for large-scale model training and inference, said the deal will help power OpenAI’s next-generation models as the AI maker rapidly scales capacity. The company has seen strong market interest—its shares were volatile intraday but have risen sharply since its IPO—and CEO Michael Intrator said the expansion reflects customer trust in CoreWeave’s ability to run demanding AI workloads. CoreWeave also carries other strategic agreements, including a reported $6.3 billion capacity guarantee with Nvidia and a recent valuation near $75 billion. The announcement comes amid OpenAI’s broader infrastructure buildout, including Stargate sites with Oracle and plans for enormous GPU and data-center spending over the next several years.