CoreWeave Expands OpenAI Partnership with $6.5 Billion Deal, Highlighting AI Industry's Massive Computational Demands

CoreWeave deal with OpenAI now worth $22.4 billion -- another $6.4 billion of AI data center capacity added

OpenAI has its checkbook open and is writing one to everyone who can provide datacenter capacity. Every time a new day dawns in the world of AI, billions of dollars change hands in massive deals. The latest arrangement is by CoreWeave, signing up to provide AI datacenter capacity to OpenAI, to the tune of a cool $6.5 billion. This collaboration is the second expansion of an existing agreement. The initial deal was struck in March for $11.9 billion, and later revised in May for an additional $4 billion. Adding up today's contract, the partnership totals $22.4 billion. This is yet another aggressive expansion play on behalf of OpenAI, which has been cutting deals left, right, and center for as much computing power as it can get its proverbial hands on. Sam Altman's venture intends to build a massive datacenter infrastructure, but as fast-moving as the AI business is, presumably it'll take whatever it can rent right this second, as illustrated by today's CoreWeave deal. If the CoreWeave name rings unfamiliar, it's because the company has only been making headlines fairly recently. It started out as Atlantic Crypto and invested in Ethereum mining, pivoting to renting out its GPU infrastructure to other companies. It continued to invest heavily in high-end Nvidia GPUs, a move that paid dividends around 2022, when almost every newcomer in the AI space needed the processing capacity that CoreWeave could provide. After continued expansion and investment (including from Nvidia), CoreWeave inked a $2.3 billion debt financing deal using its H100 GPUs as collateral, in a world-first move. The company was also the first to deploy Nvidia's Blackwell GB200 (NVL72) rack units. CoreWeave currently has dozens of datacenters, mainly around the U.S., plus five locations in Europe. Microsoft is still by far its largest customer, accounting for around 70% of its revenue in the June 2025 filings. That statement might be a bit puzzling, but it makes sense considering that CoreWeave's main business has been AI-specific datacenters and services almost from the ground up. This is in contrast to familiar names in the cloud computing industry like Amazon Web Services, Google Cloud, IBM Cloud, Oracle, and even Microsoft's own Azure.

Exclusive: CoreWeave expands OpenAI pact with new $6.5 billion contract

Sept 25 (Reuters) - AI cloud provider CoreWeave has expanded its partnership with OpenAI in a new deal worth up to $6.5 billion, bringing the total value of their agreements to $22.4 billion, the latest in a series of billion-dollar deals OpenAI has signed to secure computational power. The agreement marks the third major expansion of the partnership between the two companies this year. The company behind ChatGPT struck an initial cloud deal with CoreWeave in March worth up to $11.9 billion, followed by a $4 billion add‑on in May. The latest addition shows the deepening relationship between the two companies as OpenAI seeks multiple partners to help with an unprecedented datacenter buildout to meet its growing computational demands. The announcement follows major updates to OpenAI's infrastructure project "Stargate". OpenAI said Tuesday it will open three new sites with Oracle, its cloud partner with a $300 billion deal over the next few years, and build two additional data centers with SoftBank. "The combined capacity from these five new sites -- along with our flagship site in Abilene, Texas, and ongoing projects with CoreWeave -- brings Stargate to nearly 7 gigawatts of planned capacity and over $400 billion in investment over the next three years," OpenAI said in a blog post. OpenAI has said Stargate aims to secure a total of 10 gigawatts of capacity through an investment that could reach $500 billion. The wave of agreements underscores the convergence of interests among major tech companies developing advanced AI and raises questions about "circular" financing across the industry and whether capital will continue to flow. Nvidia said earlier this week it will invest up to $100 billion in OpenAI and supply data‑center chips, marking a tie‑up between two of the highest‑profile players in the AI race. The Nvidia and OpenAI deal gives the chipmaker a financial stake in one of its biggest customers and has prompted antitrust concerns. Nvidia has also invested in CoreWeave and owns more than 5% of the company. CoreWeave, in turn, made substantial purchases of Nvidia hardware and signed a $6.3 billion initial order with Nvidia this month, in a deal that guarantees the chipmaker will purchase any cloud capacity not sold to customers. Reporting by Krystal Hu in San Francisco, Editing by Louise Heavens Our Standards: The Thomson Reuters Trust Principles., opens new tab * Suggested Topics: * Artificial Intelligence Krystal Hu Thomson Reuters Krystal reports on venture capital and startups for Reuters. She covers Silicon Valley and beyond through the lens of money and characters, with a focus on growth-stage startups, tech investments and AI. She has previously covered M&A for Reuters, breaking stories on Trump's SPAC and Elon Musk's Twitter financing. Previously, she reported on Amazon for Yahoo Finance, and her investigation of the company's retail practice was cited by lawmakers in Congress. Krystal started a career in journalism by writing about tech and politics in China. She has a master's degree from New York University, and enjoys a scoop of Matcha ice cream as much as getting a scoop at work.

CoreWeave inks $6.5 billion deal with OpenAI

The new agreement brings the AI cloud infrastructure provider's total contracts with OpenAI to $22.5 billion. "This milestone affirms the trust that world-leading innovators have in CoreWeave's ability to power the most demanding inference and training workloads at an unmatched pace," CoreWeave CEO Michael Intrator said in a statement. In March, CoreWeave announced an $11.9-billion agreement with OpenAI to provide AI datacenters and technology over five years. Intrator told CNBC in May that the companies expanded the agreement by $4 billion. CoreWeave, which went public in March, makes money by renting out data centers packed with numerous Nvidia graphics processing units. The company is backed by Nvidia and makes a significant chunk of its revenue from Microsoft, which is a key investor in OpenAI. Earlier this month, CoreWeave's share price popped after the company disclosed a $6.3 billion order from Nvidia.

CoreWeave expands OpenAI Deals to as much as $34b

Gift 5 articles to anyone you choose each month when you subscribe. CoreWeave expanded its agreements to supply data center capacity to OpenAI by as much as $US6.5 billion ($9.9 billion) to $US22.4 billion, the latest deal to underscore the immense demand for AI computing power. The agreement will power the training of OpenAI's "most advanced next-generation models", CoreWeave said in a statement. CoreWeave had announced an initial pact with OpenAI in March for as much as $US11.9 billion in business and followed that in May with a deal worth as much as $US4 billion.

Why CoreWeave Just Landed Another $6.5 Billion OpenAI Contract

AI cloud provider CoreWeave has expanded its partnership with OpenAI in a new deal worth up to $6.5 billion, bringing the total value of their agreements to $22.4 billion, the latest in a series of billion-dollar deals OpenAI has signed to secure computational power. The agreement marks the third major expansion of the partnership between the two companies this year. The company behind ChatGPT struck an initial cloud deal with CoreWeave in March worth up to $11.9 billion, followed by a $4 billion add‑on in May. The latest addition shows the deepening relationship between the two companies as OpenAI seeks multiple partners to help with an unprecedented datacenter buildout to meet its growing computational demands. The announcement follows major updates to OpenAI's infrastructure project "Stargate". OpenAI said Tuesday it will open three new sites with Oracle, its cloud partner with a $300 billion deal over the next few years, and build two additional data centers with SoftBank. CoreWeave's shares pared losses in premarket trading and were down about 4%. Reuters was first to report the news. "The combined capacity from these five new sites -- along with our flagship site in Abilene, Texas, and ongoing projects with CoreWeave -- brings Stargate to nearly 7 gigawatts of planned capacity and over $400 billion in investment over the next three years," OpenAI said in a blog post. OpenAI has said Stargate aims to secure a total of 10 gigawatts of capacity through an investment that could reach $500 billion. The wave of agreements underscores the convergence of interests among major tech companies developing advanced AI and raises questions about "circular" financing across the industry and whether capital will continue to flow. Nvidia said earlier this week it will invest up to $100 billion in OpenAI and supply data‑center chips, marking a tie‑up between two of the highest‑profile players in the AI race. The Nvidia and OpenAI deal gives the chipmaker a financial stake in one of its biggest customers and has prompted antitrust concerns. Nvidia has also invested in CoreWeave and owns more than 5 percent of the company. CoreWeave, in turn, made substantial purchases of Nvidia hardware and signed a $6.3 billion initial order with Nvidia this month, in a deal that guarantees the chipmaker will purchase any cloud capacity not sold to customers. (Reporting by Krystal Hu in San Francisco, additional reporting by Akash Sriram in Bengaluru, Editing by Louise Heavens)

CoreWeave expands OpenAI pact with new $6.5 billion contract - The Economic Times

The agreement marks the third major expansion of the partnership between the two companies this year. The company behind ChatGPT struck an initial cloud deal with CoreWeave in March worth up to $11.9 billion, followed by a $4 billion add-on in May.AI cloud provider CoreWeave has expanded its partnership with OpenAI in a new deal worth up to $6.5 billion, bringing the total value of their agreements to $22.4 billion, the latest in a series of billion-dollar deals OpenAI has signed to secure computational power. The agreement marks the third major expansion of the partnership between the two companies this year. The company behind ChatGPT struck an initial cloud deal with CoreWeave in March worth up to $11.9 billion, followed by a $4 billion add-on in May. The latest addition shows the deepening relationship between the two companies as OpenAI seeks multiple partners to help with an unprecedented datacenter buildout to meet its growing computational demands. The announcement follows major updates to OpenAI's infrastructure project "Stargate". OpenAI said Tuesday it will open three new sites with Oracle, its cloud partner with a $300 billion deal over the next few years, and build two additional data centers with SoftBank. "The combined capacity from these five new sites-along with our flagship site in Abilene, Texas, and ongoing projects with CoreWeave-brings Stargate to nearly 7 gigawatts of planned capacity and over $400 billion in investment over the next three years," OpenAI said in a blog post. OpenAI has said Stargate aims to secure a total of 10 gigawatts of capacity through an investment that could reach $500 billion. The wave of agreements underscores the convergence of interests among major tech companies developing advanced AI and raises questions about "circular" financing across the industry and whether capital will continue to flow. Nvidia said earlier this week it will invest up to $100 billion in OpenAI and supply data-center chips, marking a tie-up between two of the highest-profile players in the AI race. The Nvidia and OpenAI deal gives the chipmaker a financial stake in one of its biggest customers and has prompted antitrust concerns. Nvidia has also invested in CoreWeave and owns more than 5% of the company. CoreWeave, in turn, made substantial purchases of Nvidia hardware and signed a $6.3 billion initial order with Nvidia this month, in a deal that guarantees the chipmaker will purchase any cloud capacity not sold to customers.

CoreWeave Expands Agreement With OpenAI To Train Next-Gen Models - CoreWeave (NASDAQ:CRWV)

CoreWeave Inc (NASDAQ: CRWV) shares are volatile Thursday morning after the company announced an expanded agreement with OpenAI. What To Know: CoreWeave announced a deal valued at up to $6.5 billion to expand its agreement with OpenAI to power the training of its next-generation models. CoreWeave previously announced an agreement with OpenAI in March valued at up to $11.9 billion. The companies announced a follow-on agreement worth up to $4 billion in May. With Thursday's deal, the company now has a total contract value with OpenAI of approximately $22.4 billion. "We are proud to expand our relationship with OpenAI, a company consistently at the forefront of advancing artificial intelligence," said Michael Intrator, co-founder, chairman and CEO of CoreWeave. "This milestone affirms the trust that world-leading innovators have in CoreWeave's ability to power the most demanding inference and training workloads at an unmatched pace." How To Buy CRWV Stock By now you're likely curious about how to participate in the market for CoreWeave - be it to purchase shares, or even attempt to bet against the company. Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy "fractional shares," which allows you to own portions of stock without buying an entire share. If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to "go short" a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading - either way it allows you to profit off of the share price decline. CRWV Price Action: CoreWeave shares were up 2.23% at $136.38 at the time of publication Thursday, according to Benzinga Pro. CRWVCoreWeave Inc $129.47-2.95% Overview Market News and Data brought to you by Benzinga APIs

OpenAI-CoreWeave Partnership Grows to $22.4 Billion | PYMNTS.com

By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions. Earlier this year, CoreWeave inked a partnership with OpenAI to power the training of its most advanced models. On Thursday (Sept. 25), the companies agreed to a new deal worth up to $6.5 billion, bringing the total contract value to $22.4 billion. "We are proud to expand our relationship with OpenAI, a company consistently at the forefront of advancing artificial intelligence," Michael Intrator, Coreweave's co-founder, chairman and CEO, said in a news release. "This milestone affirms the trust that world-leading innovators have in CoreWeave's ability to power the most demanding inference and training workloads at an unmatched pace." The release notes that this expanded partnership follows the recent launch of CoreWeave Ventures, a new initiative to back AI founders and companies, and the firm's $2 billion commitment to AI projects in the UK. As for OpenAI, the company CEO Sam Altman this week used his personal blog to share his vision for AI. In a post titled "Abundant Intelligence," he called for the technology to become as universal as electricity and said providing it at scale will require industrial-level infrastructure supported by massive investment. "Our vision is simple: we want to create a factory that can produce a gigawatt of new AI infrastructure every week," Altman wrote. "The execution of this will be extremely difficult; it will take us years to get to this milestone and it will require innovation at every level of the stack, from chips to power to building to robotics. But we have been hard at work on this and believe it is possible." The vision is happening amid a rapid expansion of OpenAI's business. As PYMNTS reported, the company doubled its annual revenue to $12 billion in 2025, while also forecasting that it will burn through $115 billion through 2029. Aside from the CoreWeave deal, OpenAI recently reached some other notable agreements. For example, Nvidia has said it would invest up to $100 billion in OpenAI beginning next year, the largest private-company investment on record. In return, OpenAI will purchase millions of Nvidia's chips. In another recent development, Oracle inked a $300 billion cloud partnership with OpenAI, anchoring the company's next generation of infrastructure. "Together, these agreements highlight OpenAI's strategy to lock in compute and cloud resources on an unprecedented scale," PYMNTS wrote.

CoreWeave expands OpenAI pact with new US$6.5 billion contract, sees "the quarter of diversification"

Artifical intelligence (AI) cloud provider CoreWeave has expanded its partnership with OpenAI in a new deal worth up to US$6.5 billion, bringing the total value of their agreements to $22.4 billion, the latest in a series of billion-dollar deals OpenAI has signed to secure computational power. The agreement marks the third major expansion of the partnership between the two companies this year. The company behind ChatGPT struck an initial cloud deal with CoreWeave in March worth up to $11.9 billion, followed by a $4 billion add‑on in May. The latest addition shows the deepening relationship between the two companies as OpenAI seeks multiple partners to help with an unprecedented data-center buildout to meet its growing computational demands. The announcement follows major updates to OpenAI's infrastructure project "Stargate." OpenAI said Tuesday it will open three new sites with Oracle, its cloud partner with a $300 billion deal over the next few years, and build two additional data centers with SoftBank. CoreWeave shares rose as much as six per cent in early trading before paring gains to trade flat. Reuters was first to report the news. In an interview with Reuters, CEO Michael Intrator reiterated the continued AI infrastructure demand he is seeing from clients. "The market is incredibly behind on its ability to deliver the infrastructure that's being demanded. As an industry, we continue to underestimate the demand for things," Intrator said. He also described the expanded contract with OpenAI as a sign that CoreWeave is diversifying its revenue away from Microsoft, which was once OpenAI's exclusive infrastructure provider and accounted for 60 per cent of CoreWeave's revenue in 2024. "The opportunity to go about diversifying our clients with some really wonderful, well-known, creditworthy customers is very exciting. When I think about this quarter, this is the quarter of diversification for us," he added. OpenAI has said Stargate aims to secure a total of 10 gigawatts of capacity through an investment that could reach $500 billion. "The combined capacity from these five new sites -- along with our flagship site in Abilene, Texas, and ongoing projects with CoreWeave -- brings Stargate to nearly seven gigawatts of planned capacity and over $400 billion in investment over the next three years," OpenAI said in a blog post. The wave of agreements underscores the convergence of interests among major tech companies developing advanced AI and raises questions about "circular" financing across the industry and whether capital will continue to flow. Nvidia said earlier this week it will invest up to $100 billion in OpenAI and supply data‑center chips, marking a tie‑up between two of the highest‑profile players in the AI race. The Nvidia and OpenAI deal gives the chipmaker a financial stake in one of its biggest customers and has prompted antitrust concerns. Nvidia has also invested in CoreWeave and owns more than five per cent of the company. CoreWeave, in turn, made substantial purchases of Nvidia hardware and signed a $6.3 billion initial order with Nvidia this month, in a deal that guarantees the chipmaker will purchase any cloud capacity not sold to customers.

CoreWeave inks new multi-billion-dollar deal with OpenAI By Investing.com

Investing.com -- CoreWeave Inc (NASDAQ:CRWV) has entered into an expanded agreement with OpenAI worth up to $6.5 billion, the company announced Thursday, significantly reinforcing its role as a foundational infrastructure provider for advanced artificial intelligence workloads. The latest contract brings CoreWeave's total deal value with OpenAI to approximately $22.4 billion, up from the previous combined commitment of $15.9 billion. The agreement marks the third iteration of CoreWeave's collaboration with OpenAI, following an $11.9 billion arrangement in March 2025 and an additional $4 billion expansion in May. With this latest announcement, CoreWeave continues to position itself as an indispensable partner for AI compute-intensive tasks like model training and inference. "We are proud to expand our relationship with OpenAI, a company consistently at the forefront of advancing artificial intelligence," said Michael Intrator, CoreWeave's Co-Founder, Chairman and CEO. "This milestone affirms the trust that world-leading innovators have in CoreWeave's ability to power the most demanding inference and training workloads at an unmatched pace." The importance of infrastructure providers in the AI landscape has grown exponentially amid increasing demand for high-performance computing. "CoreWeave has become an important partner in OpenAI's broader infrastructure platform," said Peter Hoeschele, VP of Infrastructure and Industrial Compute at OpenAI. "By delivering compute at unmatched speed and scale, they're helping us advance the frontier of intelligence and ensure AI's benefits reach everyone." In parallel with its deepening relationship with OpenAI, CoreWeave has made strategic moves to expand its global footprint and ecosystem influence. This month, the company committed £1.5 billion to bolster AI innovation in the UK and launched CoreWeave Ventures to support startups building the foundation of tomorrow's AI technologies. Recent acquisitions of OpenPipe and Weights & Biases also signal CoreWeave's intent to broaden its capabilities up and down the stack. By integrating cutting-edge monitoring and development tools, the company aims to deliver more comprehensive solutions to its AI-focused clientele. Despite the positive news flow and contract momentum, CoreWeave's stock was dropping 3.1% in Thursday trading. Investors may be assessing the capital outlays and execution risks associated with such rapid expansion in a competitive and capital-intensive sector. Nevertheless, the latest agreement underscores CoreWeave's increasingly central role in the generative AI ecosystem. As large-scale AI models require massive compute infrastructure, the company is positioning itself at the intersection of hyperscale performance and operational agility.

CoreWeave, Inc. Expands Agreement with OpenAI by up to $6.5 billion

CoreWeave, Inc. announced an expanded agreement with OpenAI to power the training of its most advanced next-generation models, reinforcing its position as the essential cloud platform for the most demanding AI workloads. The contract value of this deal is up to $6.5 billion. In March 2025, CoreWeave announced an initial agreement with OpenAI with a contract value up to $11.9 billion, followed by an expanded agreement worth up to $4 billion in May 2025. The agreement announced brings the total contract value with OpenAI up to approximately $22.4 billion. The agreement with OpenAI builds on a series of recent CoreWeave milestones that underscore the company?s role in driving AI innovation. This month, CoreWeave announced a £1.5 billion commitment to powering UK AI innovation and growth, as well as the launch of CoreWeave Ventures, a new initiative committed to backing founders and companies developing the platforms and technologies shaping the AI ecosystem. Through its recent acquisitions of OpenPipe and Weights & Biases, CoreWeave is expanding its platform by adding innovation up and down the technology stack.

CoreWeave expands OpenAI pact with new $6.5 billion contract

(Reuters) -AI cloud provider CoreWeave has expanded its partnership with OpenAI in a new deal worth up to $6.5 billion, bringing the total value of their agreements to $22.4 billion, the latest in a series of billion-dollar deals OpenAI has signed to secure computational power. The agreement marks the third major expansion of the partnership between the two companies this year. The company behind ChatGPT struck an initial cloud deal with CoreWeave in March worth up to $11.9 billion, followed by a $4 billion add-on in May. The latest addition shows the deepening relationship between the two companies as OpenAI seeks multiple partners to help with an unprecedented datacenter buildout to meet its growing computational demands. The announcement follows major updates to OpenAI's infrastructure project "Stargate". OpenAI said Tuesday it will open three new sites with Oracle, its cloud partner with a $300 billion deal over the next few years, and build two additional data centers with SoftBank. CoreWeave's shares pared losses in premarket trading and were down about 4%. Reuters was first to report the news. "The combined capacity from these five new sites--along with our flagship site in Abilene, Texas, and ongoing projects with CoreWeave--brings Stargate to nearly 7 gigawatts of planned capacity and over $400 billion in investment over the next three years," OpenAI said in a blog post. OpenAI has said Stargate aims to secure a total of 10 gigawatts of capacity through an investment that could reach $500 billion. The wave of agreements underscores the convergence of interests among major tech companies developing advanced AI and raises questions about "circular" financing across the industry and whether capital will continue to flow. Nvidia said earlier this week it will invest up to $100 billion in OpenAI and supply data-center chips, marking a tie-up between two of the highest-profile players in the AI race. The Nvidia and OpenAI deal gives the chipmaker a financial stake in one of its biggest customers and has prompted antitrust concerns. Nvidia has also invested in CoreWeave and owns more than 5% of the company. CoreWeave, in turn, made substantial purchases of Nvidia hardware and signed a $6.3 billion initial order with Nvidia this month, in a deal that guarantees the chipmaker will purchase any cloud capacity not sold to customers. (Reporting by Krystal Hu in San Francisco, additional reporting by Akash Sriram in Bengaluru, Editing by Louise Heavens)