CoreWeave has secured a major deal with OpenAI, marking a significant expansion in the AI infrastructure realm. By providing essential resources, CoreWeave will boost OpenAI’s compute capacity, allowing for enhanced model training and deployment across its expansive user base. The agreement’s value could reach $11.9 billion, showcasing the strategic importance of this collaboration.
CoreWeave’s commitment to the AI sector is evident, as OpenAI will also invest $350 million in the firm. Michael Intrator, co-founder and CEO of CoreWeave, emphasized the significance of this partnership, “Partnering with OpenAI on this net new contract underscores CoreWeave’s proven ability to deliver reliable and performant infrastructure services.” The company aims to remain a leading provider of high-performance infrastructure tailored for AI applications.
From OpenAI’s perspective, CoreWeave complements existing collaborations with industry giants like Microsoft and Oracle. Sam Altman, CEO of OpenAI, noted the essential role of reliable computing power, stating, “CoreWeave is an important addition to OpenAI’s infrastructure portfolio.”
CoreWeave is also making waves in the financial sector. With support from AI chip leader Nvidia, the company is on track for a public listing on the Nasdaq soon. Their revenue surged by over 700% in 2024, drawing in $1.92 billion, with Microsoft contributing to a significant portion of this growth. To further fuel its expansion, CoreWeave secured a $650 million credit facility and has raised over $12 billion in financing.
Furthermore, CoreWeave operates 32 data centers, hosting over 250,000 Nvidia GPUs. Besides partnering with Microsoft, CoreWeave’s clientele includes tech heavyweights like Meta, IBM, and Cohere. In mid-2024, Oracle, Microsoft, and OpenAI announced a collaborative effort to integrate Microsoft Azure AI with Oracle Cloud Infrastructure. This initiative aims to further OpenAI’s reach and capabilities using advanced AI infrastructure.
