CoreWeave inks $6.5 billion deal with OpenAI

CoreWeave has made headlines with a groundbreaking announcement on Thursday, revealing a staggering $6.5 billion deal with OpenAI. This agreement marks a significant expansion of their existing partnership with the renowned AI startup known for developing ChatGPT. With this latest contract, CoreWeave's total agreements with OpenAI have now reached an impressive $22.5 billion. CoreWeave's CEO, Michael Intrator, expressed his enthusiasm in a statement, emphasizing that this achievement showcases the confidence leading innovators have in CoreWeave's capability to handle the most intensive inference and training workloads at exceptional speeds. Earlier in March, CoreWeave had already disclosed an $11.9 billion agreement with OpenAI aimed at providing advanced AI datacenters and technology over a span of five years. In a conversation with CNBC in May, Intrator mentioned that the partnership had been further expanded by an additional $4 billion. Having gone public in March, CoreWeave generates revenue by leasing out data centers outfitted with numerous Nvidia graphics processing units. The company enjoys backing from Nvidia and derives a considerable portion of its income from Microsoft, a major stakeholder in OpenAI. Just recently, CoreWeave's stock saw a significant boost following the announcement of a $6.3 billion order from Nvidia.