CoreWeave strikes $11.9B deal with OpenAI to deliver AI infrastructure

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Coin Telegraph 1d ago

CoreWeave strikes $11.9B deal with OpenAI to deliver AI infrastructure - Coin Telegraph

Quick Summary:

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.

The new deal may provide a boost to CoreWeave, as roughly two-thirds of the company’s revenue came from Microsoft, which had planned to spend $10 billion on CoreWeave by 2030.

Cloud AI market expected to grow by 30.9% CAGR until 2030The cloud artificial intelligence market is expected to grow significantly in the coming years, according to Fortune Business Intelligence.