OpenAI has signed a five-year, $11.9 billion deal with CoreWeave. Under this agreement, CoreWeave will provide the necessary computational power for training and running OpenAI’s artificial intelligence models. Additionally, OpenAI will purchase $350 million worth of shares in CoreWeave during its planned initial public offering (IPO).
This move aims to reduce OpenAI’s dependency on its major partner, Microsoft, and diversify its computing infrastructure. CoreWeave, which started in 2017 focusing on cryptocurrency mining, has since transitioned to providing cloud services with high-performance Nvidia GPUs tailored for artificial intelligence. The company is now one of Nvidia's largest customers, owning over 250,000 AI GPUs.
In CoreWeave's upcoming IPO, its shares will be listed on Nasdaq under the CRWV symbol, with the company targeting a valuation of around $35 billion and raising $4 billion.
This agreement also includes other OpenAI partnerships, such as the $500 billion "Stargate" data center project with SoftBank and agreements with Oracle. These strategic moves are intended to help OpenAI maintain its leadership in artificial intelligence while expanding its computational infrastructure.
