OpenAI Secures $11.9 Billion AI Infrastructure Deal with CoreWeave Ahead of IPO
12 Sources
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CoreWeave Announces Agreement with OpenAI to Deliver AI Infrastructure
Enter your email to get Benzinga's ultimate morning update: The PreMarket Activity Newsletter CoreWeave to provide dedicated compute capacity for OpenAI's model training and services LIVINGSTON, N.J., March 10, 2025 /PRNewswire/ -- CoreWeave today announced a deal to deliver AI infrastructure to
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OpenAI to pay CoreWeave $11.9 billion over five years for AI data centers, services
CoreWeave, the provider of data center technology and services for artificial intelligence companies, has signed a five-year deal with OpenAI valued at $11.9 billion, according to two people with knowledge of the matter. As part of the deal, OpenAI will receive a stake in CoreWeave worth about
[3]
CoreWeave signs $11.9 billion contract with OpenAI ahead of IPO By Investing.com
Investing.com -- CoreWeave, an artificial intelligence startup backed by Nvidia (NASDAQ:NVDA), has entered into a five-year contract with OpenAI, worth $11.9 billion, according to a Reuters report on Monday. The agreement, which involves providing cloud computing services, comes as CoreWeave
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Exclusive: CoreWeave strikes $12 billion contract with OpenAI ahead of IPO, sources say
NEW YORK, March 10 (Reuters) - CoreWeave, an artificial intelligence startup backed by Nvidia (NVDA.O), opens new tab, has signed a five-year contract worth $11.9 billion with OpenAI to provide cloud computing services ahead of its hotly anticipated stock market launch, people familiar with the
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ChatGPT Maker OpenAI Inks $12B Deal With CoreWeave Ahead of Planned IPO - Decrypt
OpenAI has signed a five-year contract worth $11.9 billion with CoreWeave on Monday to deliver AI infrastructure used for training the ChatGPT maker's models. The deal includes OpenAI receiving $350 million in CoreWeave stock linked to the cloud computing provider's upcoming IPO. CoreWeave will
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In another chess move with Microsoft, OpenAI is pouring $12B into CoreWeave | TechCrunch
In a grandmaster-level chest move, OpenAI has signed a five-year, $11.9 billion agreement with GPU-heavy cloud service, CoreWeave, Reuters reports citing people close to the deal. The deal involves OpenAI buying $350 million worth of equity in CoreWeave, the sources told Reuters. This stock sale
[7]
Why OpenAI just bet $11.9B on CoreWeave: Microsoft won't be happy
OpenAI has signed a five-year, $11.9 billion agreement with CoreWeave, a GPU-heavy cloud service provider, which includes a $350 million equity stake for OpenAI, as reported by Reuters. The deal is separate from CoreWeave's planned initial public offering (IPO), which the company filed for last
[8]
CoreWeave Signs $11.9 Billion Agreement with OpenAI Ahead of IPO
OpenAI will receive $350 million in CoreWeave shares through a private placement. NVIDIA-backed hyperscaler AI startup CoreWeave has signed a five-year agreement valued at $11.9 billion with OpenAI. Under the agreement, CoreWeave will provide AI infrastructure services to OpenAI. The announcement
[9]
CoreWeave wins $12 billion cloud contract from OpenAI ahead of IPO, sources say
CoreWeave, an artificial intelligence startup backed by Nvidia, has signed a five-year cloud-computing contract worth $11.9 billion with OpenAI ahead of its hotly anticipated stock market launch, people familiar with the matter told Reuters on Monday. The deal will give OpenAI a stake in
[10]
OpenAI strikes $12bn deal with CoreWeave
OpenAI has forged a near-$12bn contract with CoreWeave and will take a stake in the cloud computing provider, boosting the group ahead of its expected $35bn public listing. The ChatGPT maker has signed a five-year deal in which CoreWeave will supply computing power to train and run OpenAI's
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OpenAI Secures Near-$12 Billion CoreWeave Deal, Taking Stake In Cloud Firm Ahead Of $35 Billion IPO To Reportedly Reduce Microsoft Dependence - Meta Platforms (NASDAQ:META), Goldman Sachs Group (NYSE:GS)
OpenAI has signed an $11.9 billion contract with CoreWeave and will acquire a $350 million equity stake in the cloud computing provider, strengthening the company ahead of its expected $35 billion initial public offering. What Happened: The agreement enables OpenAI to reduce its reliance on
[12]
CoreWeave strikes $11.9B deal with OpenAI to deliver AI infrastructure
CoreWeave announced on March 11 that it had struck a five-year deal worth up to $11.9 billion with OpenAI, the nonprofit research and development company that created ChatGPT. Through the deal, OpenAI will become an investor in CoreWeave through the issuance of $350 million of stock, while
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OpenAI signs a five-year contract with CoreWeave for AI infrastructure, valued at $11.9 billion. The deal includes OpenAI receiving $350 million in CoreWeave stock tied to the company's upcoming IPO.
OpenAI and CoreWeave Forge Landmark Partnership
In a significant move that underscores the growing demand for AI infrastructure, OpenAI has entered into a five-year agreement with CoreWeave, valued at $11.9 billion. The deal, announced on March 10, 2025, aims to expand OpenAI's compute capacity for training and delivering its latest models at scale to hundreds of millions of users worldwide
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.Strategic Investment and Infrastructure Expansion
As part of this strategic partnership, OpenAI will become an investor in CoreWeave through the issuance of $350 million in CoreWeave stock, tied to the company's upcoming IPO
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. This investment highlights the symbiotic relationship between AI developers and infrastructure providers in the rapidly evolving AI landscape.CoreWeave, known as the "AI Hyperscaler," has positioned itself as a cloud platform provider specifically designed for compute-intensive workloads. The company's infrastructure includes 32 data centers housing over 250,000 Nvidia GPUs, surpassing its previously announced goals
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.Implications for AI Development and Compute Capacity
Sam Altman, CEO of OpenAI, emphasized the critical need for reliable compute in advancing AI systems: "Advanced AI systems require reliable compute, and we're excited to continue scaling with CoreWeave so we can train even more powerful models and offer great services to even more users"
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. This partnership complements OpenAI's existing commercial deals with Microsoft and Oracle, as well as its joint venture with SoftBank on Project Stargate5
.CoreWeave's Growth and Market Position
CoreWeave has experienced remarkable growth, raising over $12 billion from equity and debt investors in the past two years. The company reported revenue of $1.92 billion in 2024, a staggering 737% increase compared to 2023
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. However, it's worth noting that CoreWeave also reported a net loss of $863.4 million during the same period4
.Related Stories
Upcoming IPO and Market Impact
CoreWeave is preparing for a highly anticipated stock market debut, expected to be a headline event in the U.S. IPO lineup for 2025. The company is reportedly aiming for a valuation of more than $35 billion
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. Morgan Stanley, JPMorgan Chase, and Goldman Sachs are leading CoreWeave's upcoming Nasdaq debut, where its shares will trade under the symbol CRWV5
.Industry Landscape and Competition
The deal comes at a time of intense competition in the AI infrastructure space. CoreWeave, which began as a crypto mining operation focusing on Ethereum before pivoting to AI infrastructure in 2019, now competes against cloud providers such as Microsoft Azure and Amazon's AWS
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. The company's customer base includes tech giants like Meta, IBM, and Microsoft, in addition to OpenAI2
.This landmark agreement between OpenAI and CoreWeave signifies the critical role of specialized infrastructure in advancing AI technology and highlights the substantial investments being made in the sector. As the AI industry continues to evolve rapidly, partnerships like this are likely to shape the future of AI development and deployment.
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