ishmael daro
Under the agreement, CoreWeave will deliver computing resources for the training and functioning of OpenAI AI models.
Once the papers are signed, the ChatGPT developer could potentially become CoreWeave's biggest customer, outpacing its primary investor - Microsoft, which made up 62% of CoreWeave's revenue in the previous year. Insiders familiar with CoreWeave revealed that the company's revenue for 2024 soared to around $2 billion from roughly $200 million the prior year.
Microsoft had initially committed to purchasing over $10 billion in CoreWeave's services by 2030, but later retracted certain agreements because of disappointment.
In January, Microsoft announced it would continue to be OpenAI's main cloud computing provider, but would permit it to occasionally utilize other providers.
TD Cowen analysts mentioned in February that Microsoft ended leases with at least two providers in the U.S. due to a potential surplus of data center capacity.
According to one source speaking to the FT, OpenAI will invest $350 million in CoreWeave as part of its agreement in the forthcoming IPO.
source: ft.com
Once the papers are signed, the ChatGPT developer could potentially become CoreWeave's biggest customer, outpacing its primary investor - Microsoft, which made up 62% of CoreWeave's revenue in the previous year. Insiders familiar with CoreWeave revealed that the company's revenue for 2024 soared to around $2 billion from roughly $200 million the prior year.
Microsoft had initially committed to purchasing over $10 billion in CoreWeave's services by 2030, but later retracted certain agreements because of disappointment.
In January, Microsoft announced it would continue to be OpenAI's main cloud computing provider, but would permit it to occasionally utilize other providers.
TD Cowen analysts mentioned in February that Microsoft ended leases with at least two providers in the U.S. due to a potential surplus of data center capacity.
According to one source speaking to the FT, OpenAI will invest $350 million in CoreWeave as part of its agreement in the forthcoming IPO.
source: ft.com
