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CoreWeave Inc. has secured a deal worth as much as $4 billion to provide additional cloud computing capacity to artificial intelligence leader OpenAI, expanding a tie-up between the two firms.
The data center builder said in a filing Thursday that OpenAI will pay the sum through 2029. CoreWeave had disclosed a $4 billion deal on its earnings call late Wednesday but did not name the party, beyond describing it as an enterprise AI company.
Ahead of its public market debut in March, CoreWeave announced it had entered into a five-year contract with OpenAI worth nearly $12 billion. The deal also gives OpenAI a sizeable stake in CoreWeave, Bloomberg News reported at the time.
The OpenAI relationship could help ease CoreWeave’s reliance on Microsoft Corp., which happens to be one of the ChatGPT maker’s biggest backers. Microsoft was one of CoreWeave’s top two customers in 2024, accounting for nearly two-thirds of overall revenue, a filing with the US Securities and Exchange Commission shows.
This story was originally featured on Fortune.com
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https://fortune.com/article/openai-coreweave-microsoft-cloud-ai-funding-deal/
Edward Ludlow, Bloomberg
