OpenAI, one of the leading players in artificial intelligence, has signed a five-year, $11.9 billion agreement with GPU-based cloud service provider CoreWeave. This major deal comes ahead of CoreWeave’s highly anticipated IPO, strengthening its position in the AI-driven cloud computing market. As part of the agreement, OpenAI will acquire shares in CoreWeave, further solidifying their strategic partnership.
OpenAI Invests in CoreWeave Ahead of Its IPO
CoreWeave, a Nvidia-backed AI cloud computing firm, plans to issue $350 million in private stock sales during its IPO. The deal is particularly significant because, before this agreement, Microsoft was CoreWeave’s largest customer, contributing 62% of CoreWeave’s revenue in 2024.
Supported by Nvidia, which owns a 6% stake in the company, CoreWeave operates a vast AI-powered cloud network with 32 data centers running over 250,000 Nvidia GPUs by the end of 2024.
Despite this massive agreement, CoreWeave’s IPO timing and size will depend on market conditions, leaving investors eager to see how this deal shapes the company’s future in the AI-driven cloud sector.
Source: Bloomberght/ Prepared by: İlayda Gök