Recently, CoreWeave, a GPU cloud services company, announced an $11.9 billion, five-year strategic partnership with OpenAI. Under the agreement, CoreWeave will provide OpenAI with the necessary computing power to support the training and deployment of its AI models. This significant deal marks a deepening collaboration between the two companies in the field of artificial intelligence.
As part of the collaboration, CoreWeave will also issue $350 million in stock to OpenAI, making OpenAI a shareholder in CoreWeave. However, CoreWeave will not receive any direct financial benefit from this stock issuance. Michael Intrator, co-founder and CEO of CoreWeave, stated that this partnership demonstrates CoreWeave's ability to provide high-performance infrastructure services to leading global AI labs, highlighting its long-term commitment to fostering AI innovation.
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Sam Altman, CEO of OpenAI, also expressed positive views on the partnership, noting that advanced AI systems require significant computing power, and the collaboration with CoreWeave is a crucial step towards achieving this goal. This partnership not only enriches OpenAI's infrastructure portfolio but also complements its existing commercial partnerships with companies like Microsoft and Oracle.
Since its founding in 2017, CoreWeave has rapidly grown thanks to its robust GPU cloud services. In 2024, its revenue reached $1.92 billion, an 8.4-fold increase from 2023, with approximately two-thirds of its revenue coming from Microsoft. With the sharp rise in AI computing demands, CoreWeave's performance in the capital market has also been remarkable. In May 2024, it successfully completed a $7.5 billion financing round and plans to conduct an initial public offering (IPO) in the coming weeks.
This deal not only represents a deepening collaboration between CoreWeave and OpenAI in technology and market but also injects new momentum into the future development of AI technology. The integration of resources and technological synergy between the two parties is expected to drive further innovation and contribute to the rapid development of the artificial intelligence industry.
