OpenAI has forged a near-$12bn contract with CoreWeave and will take a stake in the cloud computing provider, boosting the group ahead of its expected $35bn public listing.
The ChatGPT maker has signed a five-year deal in which CoreWeave will supply computing power to train and run OpenAI’s artificial intelligence models, said two people with knowledge of the deal. OpenAI is looking to expand beyond a reliance on Microsoft, its biggest partner, for its computing needs.
The Financial Times last week reported Microsoft had walked away from a planned deal with CoreWeave because of the cloud computing provider’s delivery issues. That decision was a blow to the New Jersey-based company, which this month filed for a New York initial public offering in which it will seek to raise about $4bn.