OpenAI Signs $12 Billion Deal With CoreWeave, Will Get Equity Stake
**OpenAI Signs $12 Billion Deal With CoreWeave, Will Get Equity Stake**
By Anissa Gardizy
2 hours ago
Source: Reuters
CoreWeave, an Nvidia-backed cloud provider, has signed a five-year deal to rent AI servers to OpenAI, according to a Reuters report. As part of the cloud deal, OpenAI will also get a stake in CoreWeave expected to be worth $350 million when the company goes public.
CoreWeave's largest customer is Microsoft, which has signed deals to spend more than $10 billion renting AI servers through 2030. It's unclear whether the OpenAI contract is a net new deal for CoreWeave. Microsoft has previously signed deals with CoreWeave to get extra capacity for OpenAI.
The Financial Times reported that Microsoft cut back on some planned spending with CoreWeave due to delivery issues and missed deadlines. CoreWeave denied the report and said "there have been no contract cancellations or walking away from commitments." Spokespeople for OpenAI and CoreWeave did not immediately respond to a request for comment.