Mar 12, 2025 | Posted by Abdul-Rahman Oladimeji
OpenAI has agreed an $11.9 billion deal to buy services from CoreWeave, which will see it take an equity stake in the AI cloud provider. This deal comes just before CoreWeave’s stock market debut, which is expected to happen in the next few weeks via an IPO. It will see OpenAI receive CoreWeave equity worth $350 million.
"Partnering with OpenAI on this net new contract underscores CoreWeave's proven ability to deliver reliable and performant infrastructure services, powering AI Innovations for world-leading AI labs," said Michael Intrator, co-founder and CEO of CoreWeave. "We remain a partner-of-choice to meet the bleeding-edge needs of pioneers to unleash AI's potential to change the world."
"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," said Sam Altman, CEO of OpenAI. "CoreWeave is an important addition to OpenAI's infrastructure portfolio, complementing our commercial deals with Microsoft and Oracle, and our joint venture with Softbank on Stargate."
